file_finliteracy3_12_10natcallfinal

National Call: What Is Financial Literacy Anyway?

Tell Congress We Need True Consumer Empowerment

TRANSCRIPT

Thursday, February 4, 2010

2:00 p.m. EST/11:00 a.m. PST

Janet Murguía:

Janet Murguía:

Thank you. Good afternoon, everyone. I just wanted to say thank you to everyone for not only participating in the call but for all the work that you're doing with the National Council of La Raza [NCLR] and our partners on this important topic of consumer empowerment. I know you all are have been working with our network for some months, some of you many years.

I also want to give a special shout out to Senator Menendez and Congressman Serrano for the work they ve for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program. We ve been working very hayou all about how these difficult economic times have impacted our community, and we know that statistic where we've seen that more than two milliongoing to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to avoid.

We want to make sure our folks can stay in their homes. And the climate is difficult. The unemploymentaround 13% and more than 15% for African Americans, and that's compared to 10% nationwide. So more families are turning to their credit cards to pay for groceries and to make ends meet. And families need help getting back on a path to financial stability.

So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think thaexactly the right question to be asking. So I know you've seen from some of our papers that our research shows that the onecounseling is the most effective way to change the way Latino families make decisions about their budget

On the other hand, most financial education programs that consist of the broad sort of generic information in the form of classroom style lectures and workbooks, Internetcampaigns do not really impact thyou all are doing, and that's the onerelationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of programmethods are helping the lowthe work that we are doing through the counseling and effort is.

Thank you. Good afternoon, everyone. I just wanted to say thank you to everyone for not only participating in the call but for all the work that you're doing with the National Council of La Raza [NCLR] and our

ers on this important topic of consumer empowerment. I know you have been working with our network for some months, some of

you many years.

I also want to give a special shout out to Senator Menendez and Congressman Serrano for the work they ve for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program. We ve been working very hayou all about how these difficult economic times have impacted our community, and we know that statistic where we've seen that more than two million 2.3 million Latino and Black familiesgoing to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to

We want to make sure our folks can stay in their homes. And the climate is difficult. The unemploymentaround 13% and more than 15% for African Americans, and that's compared to 10% nationwide. So more families are turning to their credit cards to pay for groceries and to make ends meet. And families need help

tting back on a path to financial stability.

So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think thaexactly the right question to be asking. So I know you've seen from some of our papers that our research shows that the onecounseling is the most effective way to change the way Latino families make decisions about their budget

On the other hand, most financial education programs that consist of the broad sort of generic information in the form of classroom style lectures and workbooks, Internetcampaigns do not really impact thyou all are doing, and that's the onerelationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of

we haven't seen that there's been evidence to suggest that these methods are helping the lowthe work that we are doing through the counseling and effort is.



I also want to give a special shout out to Senator Menendez and Congressman Serrano for the work they ve for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program. We ve been working very hard with the administration. I don't need to tell you all about how these difficult economic times have impacted our community, and we know that statistic where we've seen that more than

2.3 million Latino and Black familiesgoing to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to

We want to make sure our folks can stay in their homes. And the climate is difficult. The unemployment

rate for our Latino community is hovering around 13% and more than 15% for African Americans, and that's compared to 10% nationwide. So more families are turning to their credit cards to pay for groceries and to make ends meet. And families need help


So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think thaexactly the right question to be asking. So I know you've seen from some of our papers that our research shows that the onecounseling is the most effective way to change the way Latino families make decisions about their budget.

On the other hand, most financial education programs that consist of the broad sort of generic information in the form of classroom style lectures and workbooks, Internet-based seminars, and financial literacy outreach campaigns do not really impact the decisionyou all are doing, and that's the onerelationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of

we haven't seen that there's been evidence to suggest that these methods are helping the low-income Latino families in the same way that the work that we are doing through the counseling and effort is.



I also want to give a special shout out to Senator Menendez and Congressman Serrano for the work they ve been doing in securing funding for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program.

rd with the administration. I don't need to tell you all about how these difficult economic times have impacted our community, and we know that statistic where we've seen that more than

2.3 million Latino and Black familiesgoing to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to

We want to make sure our folks can stay in their homes. And the climate rate for our Latino community is hovering

around 13% and more than 15% for African Americans, and that's compared to 10% nationwide. So more families are turning to their credit cards to pay for groceries and to make ends meet. And families need help


So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think thaexactly the right question to be asking. So I know you've seen from some of our papers that our research shows that the onecounseling is the most effective way to change the way Latino families

.

On the other hand, most financial education programs that consist of the broad sort of generic information in the form of classroom style lectures

based seminars, and financial literacy outreach e decision-making. We really need what

you all are doing, and that's the one-on-one family, the counselor relationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of

we haven't seen that there's been evidence to suggest that these income Latino families in the same way that

the work that we are doing through the counseling and effort is.



I also want to give a special shout out to Senator Menendez and been doing in securing funding

for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program.


2.3 million Latino and Black families the fact that they'going to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to



So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think thaexactly the right question to be asking. So I know you've seen from some of our papers that our research shows that the one-on-one financial counseling is the most effective way to change the way Latino families


based seminars, and financial literacy outreach making. We really need what

one family, the counselor relationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of





I also want to give a special shout out to Senator Menendez and been doing in securing funding

for the financial education and counseling pilot program at CDFI [Community Development Financial Institutions] and, of course, Congressman Gutierrez for his amendment to expand this pilot program.


the fact that they'going to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to



So we are pleased to see that as part of their work to overhaul the banking system, Congress is also thinking about how to get information to consumers. You all play a key role in that regard and we think that this is exactly the right question to be asking. So I know you've seen from some

one financial counseling is the most effective way to change the way Latino families



one family, the counselor relationship. And those things are very important. Although these efforts are important for increasing awareness, the other generic type of



2

Thank you. Good afternoon, everyone. I just wanted to say thank you to everyone for not only participating in the call but for all the work that


been doing in securing funding

Congressman Gutierrez for his amendment to expand this pilot program. rd with the administration. I don't need to tell

community, and we know that statistic where we've seen that more than the fact that they're

going to lose their homes to foreclosure between 2009 and 2012 if we don't have some very specific strategies. That is something we want to


compared to 10% nationwide. So more families are turning to their credit cards to pay for groceries and to make ends meet. And families need help

So we are pleased to see that as part of their work to overhaul the banking

t this is exactly the right question to be asking. So I know you've seen from some

counseling is the most effective way to change the way Latino families



relationship. And those things are very important. Although these efforts


Janis Bowdler:

Jackie Lyn

Janis Bowdler:

Jackie Lynn Coleman:

So from our communitywe know we can demonstrate that the oneeffective tool for families and that it increases their credit scores, evaluates credit options, and saves them money.

So helping families make realmoney and result in more secure financial situations does require tailored guidance from a knowledgeable counselor.

Thank you everybody. This is Janis Bowdler, Deputy Director of the Wealth-Building Policy Projectthank you all for joining us. As you heard from Janet, NCLR is doing a lot of work to try to promote the onecommunityme and I'm not going to talk. We've got a great lineup of folks that are investing heavily in really thinking about how to get tailored financial advice to our families at a time when it's going to mean the most to them, when they're about to make big decto talk a little bit about that.

I'm just going to introduce them all now and then we'll just go in this order. We're going to move quickly so that we have plenty of time to hear your thoughts on this subject and t

First we'll have Jackie Lynn Coleman, who's the Senior Director of National Programs and is speaking on behalf of the National Community Tax Coalition. We'll have Anthony Santiago, who's COO of Newark Now in Newark, New Jersey; KristServices at The Resurrection Project in Chicago; and Daniela Salis, Program Director of the Mission Asset Fund in San Francisco, California. So with that, Jackie, would you give us a few words please?

n Coleman:Yes. Thank you, Janis. The National Community Tax Coalition [NCTC] has over 700 affiliates across the country that provide tax preparation and asset-building services to lowNCTC family recognized thabank accounts, and financial education was not comprehensive enough to move our families up the economic escalator. And therefore, more comprehensive and more inmix.

This being the case, many NCTC affiliates have evolved their services, incorporated financial counseling into the menu of services provided to low-income workers. Our vital programs understand that clients visiting a tax site are there in most cases j

So from our communitywe know we can demonstrate that the oneeffective tool for families and that it increases their credit scores, evaluates credit options, and saves them money.

So helping families make realmoney and result in more secure financial situations does require tailored guidance from a knowledgeable counselor.

Thank you everybody. This is Janis Bowdler, Deputy Director of the Building Policy Project

thank you all for joining us. As you heard from Janet, NCLR is doing a lot of work to try to promote the onecommunity-based organizations. But you don't have to hear about it from me and I'm not going to talk. We've got a great lineup of folks that are investing heavily in really thinking about how to get tailored financial advice to our families at a time when it's going to mean the most to them, when they're about to make big decto talk a little bit about that.


First we'll have Jackie Lynn Coleman, who's the Senior Director of National Programs and is speaking on behalf of the National Community Tax Coalition. We'll have Anthony Santiago, who's COO of Newark Now in Newark, New Jersey; KristServices at The Resurrection Project in Chicago; and Daniela Salis, Program Director of the Mission Asset Fund in San Francisco, California. So with that, Jackie, would you give us a few words please?

Yes. Thank you, Janis. The National Community Tax Coalition [NCTC] has over 700 affiliates across the country that provide tax preparation and

building services to lowNCTC family recognized thabank accounts, and financial education was not comprehensive enough to move our families up the economic escalator. And therefore, more comprehensive and more in

This being the case, many NCTC affiliates have evolved their services, incorporated financial counseling into the menu of services provided to

income workers. Our vital programs understand that clients visiting a tax site are there in most cases j

So from our community-based housing and financial cwe know we can demonstrate that the oneeffective tool for families and that it increases their credit scores, evaluates credit options, and saves them money.

So helping families make real-time financial money and result in more secure financial situations does require tailored guidance from a knowledgeable counselor.

Thank you everybody. This is Janis Bowdler, Deputy Director of the Building Policy Project

at National Council La Raza. I want to thank you all for joining us. As you heard from Janet, NCLR is doing a lot of work to try to promote the one

based organizations. But you don't have to hear about it from me and I'm not going to talk. We've got a great lineup of folks that are investing heavily in really thinking about how to get tailored financial advice to our families at a time when it's going to mean the most to them, when they're about to make big decto talk a little bit about that.


First we'll have Jackie Lynn Coleman, who's the Senior Director of National Programs and is speaking on behalf of the National Community Tax Coalition. We'll have Anthony Santiago, who's COO of Newark Now in Newark, New Jersey; Kristen Komara, who's the Director of Financial Services at The Resurrection Project in Chicago; and Daniela Salis, Program Director of the Mission Asset Fund in San Francisco, California. So with that, Jackie, would you give us a few words please?


building services to low-income workers. Over seven years ago, the NCTC family recognized that solely providing tax preparation, access to bank accounts, and financial education was not comprehensive enough to move our families up the economic escalator. And therefore, more comprehensive and more in-depth services needed to be folded into the


income workers. Our vital programs understand that clients visiting a tax site are there in most cases just to get their taxes prepared. However,

based housing and financial c

we know we can demonstrate that the one-on-one counseling is a highly effective tool for families and that it increases their credit scores, evaluates credit options, and saves them money.

time financial decisions that save them

money and result in more secure financial situations does require tailored guidance from a knowledgeable counselor.

Thank you everybody. This is Janis Bowdler, Deputy Director of the at National Council La Raza. I want to

thank you all for joining us. As you heard from Janet, NCLR is doing a lot of work to try to promote the one-on-one financial advice through

based organizations. But you don't have to hear about it from me and I'm not going to talk. We've got a great lineup of folks that are investing heavily in really thinking about how to get tailored financial advice to our families at a time when it's going to mean the most to them, when they're about to make big decisions. Each of our speakers

I'm just going to introduce them all now and then we'll just go in this order. We're going to move quickly so that we have plenty of time to hear your thoughts on this subject and take your questions.

First we'll have Jackie Lynn Coleman, who's the Senior Director of National Programs and is speaking on behalf of the National Community Tax Coalition. We'll have Anthony Santiago, who's COO of Newark Now

en Komara, who's the Director of Financial Services at The Resurrection Project in Chicago; and Daniela Salis, Program Director of the Mission Asset Fund in San Francisco, California. So with that, Jackie, would you give us a few words please?


income workers. Over seven years ago, the t solely providing tax preparation, access to

bank accounts, and financial education was not comprehensive enough to move our families up the economic escalator. And therefore, more

depth services needed to be folded into the


income workers. Our vital programs understand that clients visiting a ust to get their taxes prepared. However,

based housing and financial counseling programs,

one counseling is a highly effective tool for families and that it increases their credit scores, evaluates

decisions that save them money and result in more secure financial situations does require tailored


thank you all for joining us. As you heard from Janet, NCLR is doing a one financial advice through

based organizations. But you don't have to hear about it from me and I'm not going to talk. We've got a great lineup of folks that are investing heavily in really thinking about how to get tailored financial advice to our families at a time when it's going to mean the most to them,

ach of our speakers

I'm just going to introduce them all now and then we'll just go in this order. We're going to move quickly so that we have plenty of time to hear

ake your questions.









ounseling programs,




thank you all for joining us. As you heard from Janet, NCLR is doing a one financial advice through


ach of our speakers is going

I'm just going to introduce them all now and then we'll just go in this order. We're going to move quickly so that we have plenty of time to hear









3

ounseling programs,



at National Council La Raza. I want to thank you all for joining us. As you heard from Janet, NCLR is doing a


going

order. We're going to move quickly so that we have plenty of time to hear

National Programs and is speaking on behalf of the National Community Tax Coalition. We'll have Anthony Santiago, who's COO of Newark Now

en Komara, who's the Director of Financial

Program Director of the Mission Asset Fund in San Francisco, California.



bank accounts, and financial education was not comprehensive enough to




we also know that there is a waiting period and therefore auxiliary services have been included to enhance the experience of the client.

Financial coaching is one of the many experiences that clients may encounter. Additionally, it is important to state that during tax time, trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very first step may be developing a spending the first step may be pulling their credit report, and for others to develop a goal and then schedule a followcoaching experience.

Programs use the tax time as a carrot to get peoplethe door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as financial counseling.

These programs provide an opportunity for clients to talk about financial goals, priorities, and aspirations. The client takes ownership of their situation and talks through different ways to accomplish their goals. The financial coach is a sounding board, or a prober. The financial coach is the one that's askspending plan? When was the last time you looked at your credit report? Do you know how to access your credit report? Are you interested in receiving your credit report today? And how do you plan to spsave your tax refund?

Now, NCTC supports financial coaching for several reasons, and I will just name a few. One, tax time is the one time of the year that we know that 1.2 million taxpayers that we serve take a good look at their financial picture. Tax time is a teachable moment, and our clients are spending quality time with organizations that they trust and depend on to provide resources, tools, and coaching that will help them enhance their financial health.

Secondly, by offering a cadrcoaching, we believe that our clients will have access to more information that will broaden their options and position them to make healthier financial choices.

And third, the current financial planning strucupper-middle class and wealthy. And unfortunately, the millions of lowincome to moderateand therefore are left to design their own financial plan. Well, organizationsprograms and offer financial coaching and other asset


Financial coaching is one of the many experiences that clients may er. Additionally, it is important to state that during tax time,

trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very first step may be developing a spending the first step may be pulling their credit report, and for others to develop a goal and then schedule a followcoaching experience.

Programs use the tax time as a carrot to get peoplethe door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as financial counseling.

These programs provide an opportunity for clients to talk about financial goals, priorities, and aspirations. The client takes ownership of their situation and talks through different ways to accomplish their goals. The financial coach is a sounding board, or a prober. The financial coach is the one that's asking the tough questions: Do you have a savings or spending plan? When was the last time you looked at your credit report? Do you know how to access your credit report? Are you interested in receiving your credit report today? And how do you plan to spsave your tax refund?

Now, NCTC supports financial coaching for several reasons, and I will just name a few. One, tax time is the one time of the year that we know that 1.2 million taxpayers that we serve take a good look at their financial

icture. Tax time is a teachable moment, and our clients are spending quality time with organizations that they trust and depend on to provide resources, tools, and coaching that will help them enhance their financial

Secondly, by offering a cadrcoaching, we believe that our clients will have access to more information that will broaden their options and position them to make healthier financial choices.

And third, the current financial planning strucmiddle class and wealthy. And unfortunately, the millions of low

income to moderate-income wage earners are unable to afford the services and therefore are left to design their own financial plan. Well, organizations

that operate VITA [Volunteer Income Tax Assistance] programs and offer financial coaching and other asset



trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very first step may be developing a spending the first step may be pulling their credit report, and for others to develop a goal and then schedule a follow-up session to continue the financial

Programs use the tax time as a carrot to get peoplethe door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as

These programs provide an opportunity for clients to talk about financial goals, priorities, and aspirations. The client takes ownership of their situation and talks through different ways to accomplish their goals. The financial coach is a sounding board, or a prober. The financial coach

ing the tough questions: Do you have a savings or spending plan? When was the last time you looked at your credit report? Do you know how to access your credit report? Are you interested in receiving your credit report today? And how do you plan to sp



Secondly, by offering a cadre of financial services, including financial coaching, we believe that our clients will have access to more information that will broaden their options and position them to make healthier

And third, the current financial planning strucmiddle class and wealthy. And unfortunately, the millions of low

income wage earners are unable to afford the services and therefore are left to design their own financial plan. Well,




trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very first step may be developing a spending or savings plan, while for others the first step may be pulling their credit report, and for others to develop a

up session to continue the financial

Programs use the tax time as a carrot to get peoplethe door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as





e of financial services, including financial coaching, we believe that our clients will have access to more information that will broaden their options and position them to make healthier

And third, the current financial planning structure is designed to attract the middle class and wealthy. And unfortunately, the millions of low





trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very

or savings plan, while for others the first step may be pulling their credit report, and for others to develop a


Programs use the tax time as a carrot to get people

in the door. Once in the door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as






ture is designed to attract the middle class and wealthy. And unfortunately, the millions of low


that operate VITA [Volunteer Income Tax Assistance] programs and offer financial coaching and other asset-building services


Financial coaching is one of the many experiences that clients may

er. Additionally, it is important to state that during tax time, trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very



in the door. Once in the door, programs are also interested in how they can get the client to come back. So the organizations must have another offering such as

These programs provide an opportunity for clients to talk about their financial goals, priorities, and aspirations. The client takes ownership of their situation and talks through different ways to accomplish their goals. The financial coach is a sounding board, or a prober. The financial coach

ing the tough questions: Do you have a savings or spending plan? When was the last time you looked at your credit report? Do you know how to access your credit report? Are you interested in receiving your credit report today? And how do you plan to spend and/or

Now, NCTC supports financial coaching for several reasons, and I will just name a few. One, tax time is the one time of the year that we know that 1.2 million taxpayers that we serve take a good look at their financial icture. Tax time is a teachable moment, and our clients are spending

quality time with organizations that they trust and depend on to provide resources, tools, and coaching that will help them enhance their financial


ture is designed to attract the middle class and wealthy. And unfortunately, the millions of low


that operate VITA [Volunteer Income Tax Assistance] building services

4

we also know that there is a waiting period and therefore auxiliary services

trained program staff and volunteers can typically only step in the shallow end of the water when it comes to financial coaching. For some, the very


in the door. Once in the door, programs are also interested in how they can get the client to

financial goals, priorities, and aspirations. The client takes ownership of their situation and talks through different ways to accomplish their goals. The financial coach is a sounding board, or a prober. The financial coach

ing the tough questions: Do you have a savings or spending plan? When was the last time you looked at your credit report? Do you know how to access your credit report? Are you interested in

end and/or



e of financial services, including financial coaching, we believe that our clients will have access to more information

ture is designed to attract the middle class and wealthy. And unfortunately, the millions of low-

income wage earners are unable to afford the services

building services

Anthony Santiago:

Anthony Santiago:

help fill this gap by using trained qualified staff and volunteers who have gone through rigorous days of training to provide such

Now I would like to take this time to pass the baton over to one of our long-time standing affiliates, Anthony Santiago from Newark Now, who will share his experience of his program and how they incorporate financial coaching services

Well, thank you very much for that introduction, Jackie Lynn. And thank you everyone for being on the call, and NCLR for putting this together.

I just want to give you a little bit of background really quickly on our organization, None-on-one coaching and our work in financial empowerment in general.

We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our missiactually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on, but I just really want to talk about our work inEmpowerment Center. In our Finanwe opened the doors to our Financial Empowerment Center about last year in 2009. But it was years in the making. When we first started working with the VITA program in calendar year 2004, our first tax season was 2003. Very quickly, we found out about NCTC and became an affiliated member. And they've been an incredible resource in helping us build up our VITA program.

And as we've been working in the field of financial empowerment quickly adding financial education tolife of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to muneeded resources and benefits; food stamps; medical assistance; health care. We also have free onprogram nonetheless is a key component to our Financial Empowerment Center. Free legal counseling. We havaccount] program that was the genesis of our biweekly financial education classes that we also conduct and our one

Now to kind of touch upon the issue at hand and why we think onecounseling is so important. And though we do provide financial education classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the onepiece was critical. And we've been forsupport, organizational support, to help bring on a counselor one


Now I would like to take this time to pass the baton over to one of our time standing affiliates, Anthony Santiago from Newark Now, who

will share his experience of his program and how they incorporate financial coaching services


I just want to give you a little bit of background really quickly on our organization, Newark Now, and the work that we're doing in regard to

one coaching and our work in financial empowerment in general.

We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our missiactually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on, but I just really want to talk about our work inEmpowerment Center. In our Finanwe opened the doors to our Financial Empowerment Center about last year in 2009. But it was years in the making. When we first started working with the VITA program in calendar year 2004, our first tax season was

Very quickly, we found out about NCTC and became an affiliated member. And they've been an incredible resource in helping us build up our VITA program.

And as we've been working in the field of financial empowerment quickly adding financial education tolife of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to muneeded resources and benefits; food stamps; medical assistance; health care. We also have free onprogram nonetheless is a key component to our Financial Empowerment Center. Free legal counseling. We havaccount] program that was the genesis of our biweekly financial education classes that we also conduct and our one

Now to kind of touch upon the issue at hand and why we think oneeling is so important. And though we do provide financial education

classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the onepiece was critical. And we've been forsupport, organizational support, to help bring on a counselor one



will share his experience of his program and how they incorporate financial coaching services.


I just want to give you a little bit of background really quickly on our ewark Now, and the work that we're doing in regard to


We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our missiactually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on, but I just really want to talk about our work inEmpowerment Center. In our Finanwe opened the doors to our Financial Empowerment Center about last year in 2009. But it was years in the making. When we first started working with the VITA program in calendar year 2004, our first tax season was

Very quickly, we found out about NCTC and became an affiliated member. And they've been an incredible resource in helping us build up

And as we've been working in the field of financial empowerment quickly adding financial education to

our VITA work, it kind oflife of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to muneeded resources and benefits; food stamps; medical assistance; health care. We also have free on-site referrals to family counseling. Our VITA program nonetheless is a key component to our Financial Empowerment Center. Free legal counseling. We havaccount] program that was the genesis of our biweekly financial education classes that we also conduct and our one


classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the onepiece was critical. And we've been forsupport, organizational support, to help bring on a counselor one



will share his experience of his program and how they incorporate




We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our missiactually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on, but I just really want to talk about our work inEmpowerment Center. In our Financial Empowerment Centerwe opened the doors to our Financial Empowerment Center about last year in 2009. But it was years in the making. When we first started working with the VITA program in calendar year 2004, our first tax season was


And as we've been working in the field of financial empowerment quickly our VITA work, it kind of

life of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to muneeded resources and benefits; food stamps; medical assistance; health

site referrals to family counseling. Our VITA program nonetheless is a key component to our Financial Empowerment Center. Free legal counseling. We have an IDA [individual development account] program that was the genesis of our biweekly financial education classes that we also conduct and our one-on-one financial counseling.


classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the onepiece was critical. And we've been fortunate enough to find foundational support, organizational support, to help bring on a counselor one

help fill this gap by using trained qualified staff and volunteers who have gone through rigorous days of training to provide such a critical service.






We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our missiactually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on,

through our Financial cial Empowerment Center

we opened the doors to our Financial Empowerment Center about last year in 2009. But it was years in the making. When we first started working with the VITA program in calendar year 2004, our first tax season was


And as we've been working in the field of financial empowerment quickly our VITA work, it kind of

life of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to muneeded resources and benefits; food stamps; medical assistance; health

site referrals to family counseling. Our VITA program nonetheless is a key component to our Financial Empowerment

e an IDA [individual development account] program that was the genesis of our biweekly financial education

one financial counseling.


classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the one

tunate enough to find foundational support, organizational support, to help bring on a counselor one

help fill this gap by using trained qualified staff and volunteers who have

a critical service.






We opened our organization in 2003. It was founded by then a former Councilman, now the current Mayor Cory Booker. And our mission actually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on,

through our Financial cial Empowerment Center actually,



And as we've been working in the field of financial empowerment quickly it almost took a

life of itself. Out of our Financial Empowerment Center there are a number of programs that we have available. And just to go down the list, free benefit screening, where we're helping folks get connected to much needed resources and benefits; food stamps; medical assistance; health

site referrals to family counseling. Our VITA program nonetheless is a key component to our Financial Empowerment

e an IDA [individual development account] program that was the genesis of our biweekly financial education

one financial counseling.

Now to kind of touch upon the issue at hand and why we think one-oneling is so important. And though we do provide financial education

classes, as I said, on a biweekly basis, and as part of our IDA program and a general service to the community, we always found that the one-on-one

tunate enough to find foundational support, organizational support, to help bring on a counselor one-on-one.

5

help fill this gap by using trained qualified staff and volunteers who have

a critical service.

Now I would like to take this time to pass the baton over to one of our

time standing affiliates, Anthony Santiago from Newark Now, who


ewark Now, and the work that we're doing in regard to one coaching and our work in financial empowerment in general.

We opened our organization in 2003. It was founded by then a former

actually is to help increase economic independence. And we do this in a number of ways, so there are a number of different initiatives we focus on,

through our Financial actually,



And as we've been working in the field of financial empowerment quickly it almost took a

number of programs that we have available. And just to go down the list, ch

needed resources and benefits; food stamps; medical assistance; health site referrals to family counseling. Our VITA

program nonetheless is a key component to our Financial Empowerment e an IDA [individual development

account] program that was the genesis of our biweekly financial education

on-one eling is so important. And though we do provide financial education

classes, as I said, on a biweekly basis, and as part of our IDA program and one

tunate enough to find foundational one.

Janis Bowdler:

Kristen Komara:

Janis Bowdler:

Kristen Komara:

And we actually have the financial clinic providing that service for us, which is a great notdevelopment to low

We wouldn't be able to do it if it wasn't almost for funding alchemy. I mean literally we have to kind of pull from various streams just to make it all work. And again we're fortunate enough right now to have legal counseling on site, but it is one of the most needed and requested services that we have at our Financial Empowerment Center. And it's incredible to see that sometimes we're weeks ahead in terms of appointments to sit down with a financia

The classes are great, it's a fantastic setting for folks to come in, kind of like in a neutral way, but you're really not going to push the needle until folks have that confidence to really open up to someone and they're not likely to do thawith a coach and sit down onebudget, develop a plan for retirement, and try to get folks on a path to improving their credit scores.

And many times it stopening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have debit cards. They don't have credit cards to even rent a caroom. So there are so many different areas that folks are apprehensive to kind of open themselves up in a large setting; in the onethat's not the case.

So we've been doing oneIt's an incredible component to our Financial Empowerment Center. And it's actually a model that we're trying to replicate in other areas around the city.

So I wanted to keep it brief, and I'm looking forward to the question and answer session. So know, Janis do you want me just to introduce Kristen or are you going to take care of that?

I'll just go ahead and let Kristen introduce herself. Kristen Komara from The Resurrection

Hi. Thank you, Anthony. Thank you, Janis and Jackie, and everyone at NCLR. My name is Kristen Komara. I am the Director of Financial Services at The Resurrection Project in Chicago. And first I want to tell you a little bit aspecifically about the program that I

And we actually have the financial clinic providing that service for us, which is a great not-for

pment to low- and moderate


The classes are great, it's a fantastic setting for folks to come in, kind of like in a neutral way, but you're really not going to push the needle until folks have that confidence to really open up to someone and they're not likely to do that in a class setting. Being able to make an appointment with a coach and sit down onebudget, develop a plan for retirement, and try to get folks on a path to improving their credit scores.

And many times it starts with some of the simplest components, like opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have debit cards. They don't have credit cards to even rent a caroom. So there are so many different areas that folks are apprehensive to kind of open themselves up in a large setting; in the onethat's not the case.

So we've been doing oneIt's an incredible component to our Financial Empowerment Center. And it's actually a model that we're trying to replicate in other areas around the

So I wanted to keep it brief, and I'm looking forward to the question and answer session. So I'm going to pass the baton to Kristen Komara. I don't know, Janis do you want me just to introduce Kristen or are you going to take care of that?

I'll just go ahead and let Kristen introduce herself. Kristen Komara from The Resurrection Project.

Hi. Thank you, Anthony. Thank you, Janis and Jackie, and everyone at NCLR. My name is Kristen Komara. I am the Director of Financial Services at The Resurrection Project in Chicago. And first I want to tell you a little bit about The Resurrection Project and then later on more specifically about the program that I

And we actually have the financial clinic providing that service for us,

for-profit organization that brings financial and moderate


The classes are great, it's a fantastic setting for folks to come in, kind of like in a neutral way, but you're really not going to push the needle until folks have that confidence to really open up to someone and they're not

t in a class setting. Being able to make an appointment with a coach and sit down one-on-budget, develop a plan for retirement, and try to get folks on a path to improving their credit scores.

arts with some of the simplest components, like opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have debit cards. They don't have credit cards to even rent a caroom. So there are so many different areas that folks are apprehensive to kind of open themselves up in a large setting; in the one

So we've been doing one-on-one financial coaching for over a year noIt's an incredible component to our Financial Empowerment Center. And it's actually a model that we're trying to replicate in other areas around the

So I wanted to keep it brief, and I'm looking forward to the question and I'm going to pass the baton to Kristen Komara. I don't

know, Janis do you want me just to introduce Kristen or are you going to

I'll just go ahead and let Kristen introduce herself. Kristen Komara from Project.

Hi. Thank you, Anthony. Thank you, Janis and Jackie, and everyone at NCLR. My name is Kristen Komara. I am the Director of Financial Services at The Resurrection Project in Chicago. And first I want to tell

bout The Resurrection Project and then later on more specifically about the program that I


profit organization that brings financial and moderate-income families.

We wouldn't be able to do it if it wasn't almost for funding alchemy. I mean literally we have to kind of pull from various streams just to make it all work. And again we're fortunate enough right now to have legal counseling on site, but it is one of the most needed and requested services that we have at our Financial Empowerment Center. And it's incredible to see that sometimes we're weeks ahead in terms of appointments to sit down with a financial counselor.


t in a class setting. Being able to make an appointment -one is critical. A coach can draft up a

budget, develop a plan for retirement, and try to get folks on a path to

arts with some of the simplest components, like opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have debit cards. They don't have credit cards to even rent a caroom. So there are so many different areas that folks are apprehensive to kind of open themselves up in a large setting; in the one

one financial coaching for over a year noIt's an incredible component to our Financial Empowerment Center. And it's actually a model that we're trying to replicate in other areas around the



I'll just go ahead and let Kristen introduce herself. Kristen Komara from


bout The Resurrection Project and then later on more specifically about the program that I the financial counseling program,


profit organization that brings financial income families.

We wouldn't be able to do it if it wasn't almost for funding alchemy. I mean literally we have to kind of pull from various streams just to make it all work. And again we're fortunate enough right now to have legal counseling on site, but it is one of the most needed and requested services that we have at our Financial Empowerment Center. And it's incredible to see that sometimes we're weeks ahead in terms of

l counselor.


t in a class setting. Being able to make an appointment one is critical. A coach can draft up a


arts with some of the simplest components, like opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have debit cards. They don't have credit cards to even rent a car or get a hotel room. So there are so many different areas that folks are apprehensive to kind of open themselves up in a large setting; in the one-on






bout The Resurrection Project and then later on more the financial counseling program,


profit organization that brings financial

We wouldn't be able to do it if it wasn't almost for funding alchemy. I mean literally we have to kind of pull from various streams just to make it all work. And again we're fortunate enough right now to have one-on-legal counseling on site, but it is one of the most needed and requested services that we have at our Financial Empowerment Center. And it's incredible to see that sometimes we're weeks ahead in terms of




arts with some of the simplest components, like opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have

r or get a hotel room. So there are so many different areas that folks are apprehensive to

on-one setting






bout The Resurrection Project and then later on more the financial counseling program,

6


We wouldn't be able to do it if it wasn't almost for funding alchemy. I mean literally we have to kind of pull from various streams just to make it

-one legal counseling on site, but it is one of the most needed and requested services that we have at our Financial Empowerment Center. And it's




opening up a bank account. And a lot of times, we take things for granted, but many of our clients don't even have bank accounts. They don't have

r or get a hotel room. So there are so many different areas that folks are apprehensive to

one setting

one financial coaching for over a year now. It's an incredible component to our Financial Empowerment Center. And it's actually a model that we're trying to replicate in other areas around the




Hi. Thank you, Anthony. Thank you, Janis and Jackie, and everyone at

Services at The Resurrection Project in Chicago. And first I want to tell

the financial counseling program,

or, actually, the comprehensive program I'm here to discuss, and that's our program called

So The Resurrection Project was founded in 1990 as a communityorganization in the Pilsen community in Chicago, one of the largest Mexican neighborhoods in Chicago. And for the last 20 years we have been working in the community with a real focus on hoissues. We became a part of the NCLR Homeownership Network in 1999, where we began, or we continued actually just in the more formal way, doing one-Department of Housing and Urban Devcounseling agency.

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their househowhat we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them socially and economically, because we limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent organizations in

And what program and an innovative partnership where we're bringing wealth creation, career development, and Latino leadership to our women participants. So a yea109 women enrolled. And one of the three components of the program is financial counseling. Onecomponents are oneleadership. Latino leadership that I mentioned.

And the real crux of the financial and wealthon-one counseling, similar to what Anthony talked about, and how it's really through that onethat motivates and coaches the women on various aspects related to their finances.

And what we found is that finances encompass every aspect of a person's life, and specifically the women that we're working with. It impactsfinances imeducation, and whether or not they're able to move forward in their education. And also their psychology, their emotional health.

or, actually, the comprehensive program I'm here to discuss, and that's our program called Mujer Avanzando

The Resurrection Project was founded in 1990 as a communityorganization in the Pilsen community in Chicago, one of the largest Mexican neighborhoods in Chicago. And for the last 20 years we have been working in the community with a real focus on hoissues. We became a part of the NCLR Homeownership Network in 1999, where we began, or we continued actually just in the more formal way,

-on-one housing counseling and also became a HUD [U.S. Department of Housing and Urban Devcounseling agency.

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their househowhat we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them socially and economically, because we limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent organizations in Chicago, to develop

And what Mujer Avanzandoprogram and an innovative partnership where we're bringing wealth creation, career development, and Latino leadership to our women participants. So a year and a half into the program, we have 100 women109 women enrolled. And one of the three components of the program is financial counseling. Onecomponents are one-onleadership. Latino leadership that I mentioned.

And the real crux of the financial and wealthone counseling, similar to what Anthony talked about, and how it's

really through that onethat motivates and coaches the women on various aspects related to their

And what we found is that finances encompass every aspect of a person's life, and specifically the women that we're working with. It impactsfinances impact their health, it impacts the success of their family, their education, and whether or not they're able to move forward in their education. And also their psychology, their emotional health.

or, actually, the comprehensive program I'm here to discuss, and that's our

Mujer Avanzando, Women Advancing.


one housing counseling and also became a HUD [U.S. Department of Housing and Urban Dev

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their househowhat we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them socially and economically, because we limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent

Chicago, to develop

Mujer Avanzando

is, Women Advancing, is an innovative program and an innovative partnership where we're bringing wealth creation, career development, and Latino leadership to our women

r and a half into the program, we have 100 women109 women enrolled. And one of the three components of the program is financial counseling. One-on-one financial counseling. The other two

on-one career development counseling, and thenleadership. Latino leadership that I mentioned.

And the real crux of the financial and wealthone counseling, similar to what Anthony talked about, and how it's

really through that one-on-one relationship and that onthat motivates and coaches the women on various aspects related to their

And what we found is that finances encompass every aspect of a person's life, and specifically the women that we're working with. It impacts

pact their health, it impacts the success of their family, their education, and whether or not they're able to move forward in their education. And also their psychology, their emotional health.


, Women Advancing.


one housing counseling and also became a HUD [U.S. Department of Housing and Urban Development]

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their househowhat we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them socially and economically, because we know that many of them face limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent

Chicago, to develop Mujer Avanzando


r and a half into the program, we have 100 women109 women enrolled. And one of the three components of the program is

one financial counseling. The other two one career development counseling, and then

leadership. Latino leadership that I mentioned.

And the real crux of the financial and wealth-building portion is the oneone counseling, similar to what Anthony talked about, and how it's

one relationship and that onthat motivates and coaches the women on various aspects related to their




, Women Advancing.

The Resurrection Project was founded in 1990 as a community

organization in the Pilsen community in Chicago, one of the largest Mexican neighborhoods in Chicago. And for the last 20 years we have been working in the community with a real focus on housing and housing issues. We became a part of the NCLR Homeownership Network in 1999, where we began, or we continued actually just in the more formal way,

one housing counseling and also became a HUD [U.S. elopment] approved housing

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their househowhat we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them

know that many of them face limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent

Mujer Avanzando.




leadership. Latino leadership that I mentioned.

building portion is the oneone counseling, similar to what Anthony talked about, and how it's

one relationship and that one-onthat motivates and coaches the women on various aspects related to their




The Resurrection Project was founded in 1990 as a community-based organization in the Pilsen community in Chicago, one of the largest Mexican neighborhoods in Chicago. And for the last 20 years we have

using and housing issues. We became a part of the NCLR Homeownership Network in 1999, where we began, or we continued actually just in the more formal way,

one housing counseling and also became a HUD [U.S. approved housing

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino women in Chicago and 25% of them are heads of their households. And what we know about them is that they're the lowest wage earners in lowskill occupations. And so we thought about this and really what we can do to empower these women and move them, and really advance them

know that many of them face limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso Latino and Mujeres Latinas en Acción, two other very prominent




also

building portion is the oneone counseling, similar to what Anthony talked about, and how it's

on-one coaching that motivates and coaches the women on various aspects related to their



7


based

Mexican neighborhoods in Chicago. And for the last 20 years we have using and housing

issues. We became a part of the NCLR Homeownership Network in 1999, where we began, or we continued actually just in the more formal way,

But it was really a couple of years ago when we started looking at the state of specifically Latino women in Chicago. There are over 250,000 Latino

lds. And what we know about them is that they're the lowest wage earners in low-skill occupations. And so we thought about this and really what we can do

limited progress for themselves, for their family, and for the community. So we joined forces with two other organizations, Instituto Del Progreso


one financial counseling. The other two also

building portion is the one-one counseling, similar to what Anthony talked about, and how it's

one coaching that motivates and coaches the women on various aspects related to their

And what we found is that finances encompass every aspect of a person's

pact their health, it impacts the success of their family, their

Janis Bowdler:

Janis Bowdler:

So in being able to partner with these two other organizattalking to the participants about their career and what it takes to be a leader, and it has been really powerful and also one of the successes of our program.

Briefly, just some of the highlights that we've been able to accomplish since beginning a year and a half ago is that of our 109 women, 83% of them have checking accounts. And that's huge. A year ago we only had about 50% of the women with checking accounts. So that's significant, as many women come in without any type of banking

And then the other thing is we have a cumulative savings of over $86,000. That's just about $800 per person. And we think that is really significant for the community and for the group as a whole.

And some other things that we're working wicourse, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of thiscomprehensiveness of this program and the onereally allowed thmake our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach. We also provide child care so that the women reallydon't have any excuses why they can't attend a class. Or attend their counseling session.

Evaluation and tracking are very important. Understanding what is working and what is the progress that the women are making. We're culturally sensitive. The two financial counselors in the program are both fully bilingual in English and Spanish; so are the other staff in the program. So we're able to really meet the language needs of the women.

And we're resourceful, whereas maybe the finaalways have all of the answers. I'm very certaincertain that they know how to find those answers. And so we have lots of other strong partnerships and relationships with other organizations and financial institutiand for expertise. So we're always able to be that resource for our participants.

So I think that's just a little bit about our program. And again, I look forward to the conversation and I have about our program. Thanks.

Thanks, Kristen. Daniela?

So in being able to partner with these two other organizattalking to the participants about their career and what it takes to be a leader, and it has been really powerful and also one of the successes of our

Briefly, just some of the highlights that we've been able to accomplish eginning a year and a half ago is that of our 109 women, 83% of

them have checking accounts. And that's huge. A year ago we only had about 50% of the women with checking accounts. So that's significant, as many women come in without any type of banking


And some other things that we're working wicourse, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of thiscomprehensiveness of this program and the onereally allowed these women to advance. Some of the things that I think make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach. We also provide child care so that the women reallydon't have any excuses why they can't attend a class. Or attend their counseling session.

Evaluation and tracking are very important. Understanding what is working and what is the progress that the women are making. We're

ly sensitive. The two financial counselors in the program are both fully bilingual in English and Spanish; so are the other staff in the program. So we're able to really meet the language needs of the women.

And we're resourceful, whereas maybe the finaalways have all of the answers. I'm very certain

that they know how to find those answers. And so we have lots of other strong partnerships and relationships with other organizations and financial institutions that we can count on for information, for knowledge, and for expertise. So we're always able to be that resource for our participants.

So I think that's just a little bit about our program. And again, I look forward to the conversation and I have about our program. Thanks.






And some other things that we're working wicourse, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of thiscomprehensiveness of this program and the one

ese women to advance. Some of the things that I think make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach. We also provide child care so that the women reallydon't have any excuses why they can't attend a class. Or attend their




that they know how to find those answers. And so we have lots of other strong partnerships and relationships with other organizations and

ons that we can count on for information, for knowledge, and for expertise. So we're always able to be that resource for our

So I think that's just a little bit about our program. And again, I look forward to the conversation and I welcome any questions that you might have about our program. Thanks.






And some other things that we're working with the women on are, of course, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of thiscomprehensiveness of this program and the one

ese women to advance. Some of the things that I think make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach. We also provide child care so that the women reallydon't have any excuses why they can't attend a class. Or attend their






So I think that's just a little bit about our program. And again, I look welcome any questions that you might

So in being able to partner with these two other organizations we're also talking to the participants about their career and what it takes to be a leader, and it has been really powerful and also one of the successes of our


them have checking accounts. And that's huge. A year ago we only had about 50% of the women with checking accounts. So that's significant, as many women come in without any type of banking accounts.


th the women on are, of course, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of thiscomprehensiveness of this program and the one-on-one coaching that has

ese women to advance. Some of the things that I think make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach. We also provide child care so that the women really

feel as though they don't have any excuses why they can't attend a class. Or attend their



And we're resourceful, whereas maybe the financial counselors don't always have all of the answers. I'm very certain and they're very




ions we're also

talking to the participants about their career and what it takes to be a leader, and it has been really powerful and also one of the successes of our


them have checking accounts. And that's huge. A year ago we only had about 50% of the women with checking accounts. So that's significant, as

accounts.

And then the other thing is we have a cumulative savings of over $86,000. That's just about $800 per person. And we think that is really significant

th the women on are, of course, their credit. We've had 16% of them improve their credit score. We've had just about 30% of them lower debt. So it's all of this the

one coaching that has ese women to advance. Some of the things that I think

make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach.

feel as though they don't have any excuses why they can't attend a class. Or attend their



ncial counselors don't and they're very




8

ions we're also

leader, and it has been really powerful and also one of the successes of our


them have checking accounts. And that's huge. A year ago we only had about 50% of the women with checking accounts. So that's significant, as

And then the other thing is we have a cumulative savings of over $86,000. That's just about $800 per person. And we think that is really significant

course, their credit. We've had 16% of them improve their credit score.

one coaching that has ese women to advance. Some of the things that I think

make our program some of the best practices are certainly the innovative partnering with these two other organizations. It's the holistic approach.

feel as though they

ly sensitive. The two financial counselors in the program are both

program. So we're able to really meet the language needs of the women.


ons that we can count on for information, for knowledge,

welcome any questions that you might

Daniela Salis:

Daniela Salis:

Yes, thank you. Hello everyone. My name is Daniela Sails, and I am speaking on behalf of the Mission Asset Fund, which was es2007. A little bit about the organization: Our mission is to expand the access to financial services, savings, and also investment opportunities for low-income immigrants in the Mission District of San Francisco. And our approach to financilittle bit about that. And when I mention financial locations, let's keep in mind that I'm talking about the group and also a combination of the financial coaching one

The approach that we have is officially based on three main principles. One, they must be integrated with a financial product. Two, they must be culturally relevant. And three, they must meet people where they are. I'll discuss how we're accomplishing this

The integrated financial educationabout having the coaching and the group classes. For this to be effective, it has to be coupled with something tangible and relevant for the client. It could be a savings account, etc. In our case, we're doing all through our peer lending circles called Cestas Populareshistory. This is a big issue in our community, where a st44% had no credit score at all.

This is something real and tangible that through the program and also in combination with the coaching and the applications they are receiving, they're able to see an improvement.

The fact that they can seeimportant for them to stay motivated and improve their wellfinancially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this iparticularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody that they really trust. It'somebody and really work one

We will deliver financial education. But we have come to the conclusion that financial education alone does not work. It has to be able to work wonders when it's integrat

I also want to talk about the cultural relevancy. I heard some of my colleagues here mention that. And to value the cultural aspect of the clients and the community we serve, we do that through our Populares

Yes, thank you. Hello everyone. My name is Daniela Sails, and I am speaking on behalf of the Mission Asset Fund, which was es2007. A little bit about the organization: Our mission is to expand the access to financial services, savings, and also investment opportunities for

income immigrants in the Mission District of San Francisco. And our approach to financial locations is also a little bit different, so I'll tell you a little bit about that. And when I mention financial locations, let's keep in mind that I'm talking about the group and also a combination of the financial coaching one

approach that we have is officially based on three main principles. One, they must be integrated with a financial product. Two, they must be culturally relevant. And three, they must meet people where they are. I'll discuss how we're accomplishing this

The integrated financial educationabout having the coaching and the group classes. For this to be effective, it has to be coupled with something tangible and relevant for the client. It could be a savings account, etc. In our case, we're doing all through our peer lending circles called Cestas Populares. We're helping immigrants establish or build their credit history. This is a big issue in our community, where a st44% had no credit score at all.


The fact that they can seeimportant for them to stay motivated and improve their wellfinancially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this iparticularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody that they really trust. It'somebody and really work one

We will deliver financial education. But we have come to the conclusion that financial education alone does not work. It has to be able to work wonders when it's integrat

I also want to talk about the cultural relevancy. I heard some of my colleagues here mention that. And to value the cultural aspect of the clients and the community we serve, we do that through our

pure lending product. We take a cultural practice common in


income immigrants in the Mission District of San Francisco. And our al locations is also a little bit different, so I'll tell you a

little bit about that. And when I mention financial locations, let's keep in mind that I'm talking about the group and also a combination of the financial coaching one-on-one sessions.

approach that we have is officially based on three main principles. One, they must be integrated with a financial product. Two, they must be culturally relevant. And three, they must meet people where they are. I'll discuss how we're accomplishing this

The integrated financial educationabout having the coaching and the group classes. For this to be effective, it has to be coupled with something tangible and relevant for the client. It could be a savings account, it could be an IDA account, a lending product, etc. In our case, we're doing all through our peer lending circles called

. We're helping immigrants establish or build their credit history. This is a big issue in our community, where a st44% had no credit score at all.


The fact that they can see

the changes in their credit score is really important for them to stay motivated and improve their wellfinancially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this iparticularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody that they really trust. It's important that you're able to sit down with somebody and really work one-on-

We will deliver financial education. But we have come to the conclusion that financial education alone does not work. It has to be able to work wonders when it's integrated with a financial project.


ing product. We take a cultural practice common in



little bit about that. And when I mention financial locations, let's keep in mind that I'm talking about the group and also a combination of the

one sessions.

approach that we have is officially based on three main principles. One, they must be integrated with a financial product. Two, they must be culturally relevant. And three, they must meet people where they are. I'll discuss how we're accomplishing this.

when we mention this, we're talking about having the coaching and the group classes. For this to be effective, it has to be coupled with something tangible and relevant for the client. It

it could be an IDA account, a lending product, etc. In our case, we're doing all through our peer lending circles called

. We're helping immigrants establish or build their credit history. This is a big issue in our community, where a st


the changes in their credit score is really important for them to stay motivated and improve their wellfinancially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this iparticularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody

s important that you're able to sit down with -one.

We will deliver financial education. But we have come to the conclusion that financial education alone does not work. It has to be able to work

ed with a financial project.






approach that we have is officially based on three main principles. One, they must be integrated with a financial product. Two, they must be culturally relevant. And three, they must meet people where they are. I'll



. We're helping immigrants establish or build their credit history. This is a big issue in our community, where a study showed that

This is something real and tangible that through the program and also in combination with the coaching and the applications they are receiving,

the changes in their credit score is really important for them to stay motivated and improve their wellfinancially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this iparticularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody

s important that you're able to sit down with


ed with a financial project.



Yes, thank you. Hello everyone. My name is Daniela Sails, and I am speaking on behalf of the Mission Asset Fund, which was established in 2007. A little bit about the organization: Our mission is to expand the access to financial services, savings, and also investment opportunities for






. We're helping immigrants establish or build their credit udy showed that


the changes in their credit score is really important for them to stay motivated and improve their well-being financially. And this concept is just based simply in, as we all know, the world economy principle that learning by doing is better. And this is particularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody

s important that you're able to sit down with


I also want to talk about the cultural relevancy. I heard some of my colleagues here mention that. And to value the cultural aspect of the clients and the community we serve, we do that through our Cestas


9

Yes, thank you. Hello everyone. My name is Daniela Sails, and I am

tablished in 2007. A little bit about the organization: Our mission is to expand the access to financial services, savings, and also investment opportunities for


little bit about that. And when I mention financial locations, let's keep in




. We're helping immigrants establish or build their credit udy showed that


financially. And this concept is just based simply in, as we all know, the

particularly important for the coaching aspect. I mean, many times when we receive a credit report, we are not able to look at confidential materials in a group setting. Clients should be able to discuss these with somebody



Janis Bowdler:

Janis Bowdler:

immigrant communities and we formalize it by recognizing payment activity. By recognizing this, we do the same throughout our coaching and education, financial education classes, and participants really valued. They feel empowered to make strides for their financial wellbeing. Again, we provide classes in Spanish and in English and in a familiar setting. We try to make the environment very communityoriented, and we take care that people really f

Finally, we also have an approach to popular education. We feel that it is really important that the participants have a stake in what financial education is. And again, this is emphasizing the onereally have a voice and they direct the process as opposed to us telling them what they need to learn or how they should be managing their money.

We feel that the perfect vehicle to deliver financial education.meeting every two months, for example, and then in between they have one-on-one sessions with their counselors. All of our counselors have previous banking experience, and they're also fluent in Spanish and in English.

Really what wcurricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need. We do not offer lectures. Instead, we really tell streal stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel comfortable.

I just want to give you an idea of how we've been successful with this approach. In terms of real and tangible results, we took a study in the last six months. We found that credit scores by 42 points and also increased their savings accounts by nine percentage points.

So I look for

Great, thank you so much. Well, in just a moment we are going to hand it over to you all that have been listening so patiently, waiting for it to open up for your comments and

I just want to take a moment to thank all of the panelists. And just to recap a little bit again, it's because of the success stories that you just heard that NCLR has been pushing so hard for a federally funded financial counseling program.


Finally, we also have an approach to popular education. We feel that it is really important that the participants have a stake in what financial education is. And again, this is emphasizing the one

have a voice and they direct the process as opposed to us telling them what they need to learn or how they should be managing their

We feel that the Cestas Popularesperfect vehicle to deliver financial education.meeting every two months, for example, and then in between they have

one sessions with their counselors. All of our counselors have previous banking experience, and they're also fluent in Spanish and in

Really what we found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need. We do not offer lectures. Instead, we really tell streal stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel comfortable.

I just want to give you an idea of how we've been successful with this ach. In terms of real and tangible results, we took a study in the last

six months. We found that credit scores by 42 points and also increased their savings accounts by nine percentage points.

So I look forward to also having a conversation later on. Thank you.

Great, thank you so much. Well, in just a moment we are going to hand it over to you all that have been listening so patiently, waiting for it to open up for your comments and

I just want to take a moment to thank all of the panelists. And just to recap a little bit again, it's because of the success stories that you just heard that NCLR has been pushing so hard for a federally funded financial counseling program.

And over the long




Cestas Populares

perfect vehicle to deliver financial education.meeting every two months, for example, and then in between they have


e found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need. We do not offer lectures. Instead, we really tell streal stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel


six months. We found that Cestas Popularescredit scores by 42 points and also increased their savings accounts by nine percentage points.

ward to also having a conversation later on. Thank you.

Great, thank you so much. Well, in just a moment we are going to hand it over to you all that have been listening so patiently, waiting for it to open up for your comments and questions.

I just want to take a moment to thank all of the panelists. And just to recap a little bit again, it's because of the success stories that you just heard that NCLR has been pushing so hard for a federally funded financial

And over the long

immigrant communities and we formalize it by recognizing payment activity. By recognizing this, we do the same throughout our coaching and education, financial education classes, and participants really valued. They feel empowered to make strides for their financial wellbeing. Again, we provide classes in Spanish and in English and in a familiar setting. We try to make the environment very communityoriented, and we take care that people really feel welcome in our location.



program that we are providing is a perfect vehicle to deliver financial education. meeting every two months, for example, and then in between they have


e found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need. We do not offer lectures. Instead, we really tell streal stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel


Cestas Populares

participants increased their credit scores by 42 points and also increased their savings accounts by


Great, thank you so much. Well, in just a moment we are going to hand it over to you all that have been listening so patiently, waiting for it to open

questions.


And over the long-term, we'd really like to see an

immigrant communities and we formalize it by recognizing payment activity. By recognizing this, we do the same throughout our coaching and education, financial education classes, and participants really valued. They feel empowered to make strides for their financial wellbeing. Again, we provide classes in Spanish and in English and in a familiar setting. We try to make the environment very community

eel welcome in our location.

Finally, we also have an approach to popular education. We feel that it is really important that the participants have a stake in what financial education is. And again, this is emphasizing the one-on-one, where they


program that we are providing is a The groups continue

meeting every two months, for example, and then in between they have one sessions with their counselors. All of our counselors have

previous banking experience, and they're also fluent in Spanish and in

e found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need. We do not offer lectures. Instead, we really tell stories and many times real stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel






term, we'd really like to see an

immigrant communities and we formalize it by recognizing payment activity. By recognizing this, we do the same throughout our coaching and education, financial education classes, and participants really feel valued. They feel empowered to make strides for their financial well-being. Again, we provide classes in Spanish and in English and in a familiar setting. We try to make the environment very community-


Finally, we also have an approach to popular education. We feel that it is really important that the participants have a stake in what financial

one, where they have a voice and they direct the process as opposed to us telling

them what they need to learn or how they should be managing their

program that we are providing is a The groups continue



e found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need.

ories and many times real stories, and we ask participants to participate in that way. We really encourage participants to later coach other clients, once they feel






term, we'd really like to see an

10

activity. By recognizing this, we do the same throughout our coaching

feel


Finally, we also have an approach to popular education. We feel that it is

one, where they have a voice and they direct the process as opposed to us telling



e found has worked the best is something in addition to curricula. Instead of having a structured curriculum, we have something that is more open, that can be adjusted, depending on the client's need.

ories and many times real stories, and we ask participants to participate in that way. We really




heard that NCLR has been pushing so hard for a federally funded financial term, we'd really like to see an

Operator:

Martha Alaquinez:

Janis Bowdler:

Martha Alaquinez:

Operator:

Martha Alaquinez:

Janis Bowdler:

Martha Alaquinez:

infrastructure built where communitycommunity would be able to offer this kind of financial advice to the lowand modest

Another thing that we wanted to demonstrate on this call is that the financial counseling or financial coaching model is very adaptable. And you can implement it in your organization in a variety of different ways, tailored to your community and tayou're already involved in. So you heard really three distinct ways of integrating the program, but many of them have the same core values and aspects. They offer timely advice when somebody needs it. They offer a private, safe place where families can ask real questions that have to do with their budget and their personal money issues. It's culturally relevant to them, delivered in their preferred language.

It also is productabout the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit history at all, and opethat are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help purchase and accumulate assets.

So with that, we would like to hear from you.

Our first question comes from Martha Alaquinez.

Yes, hello. This is Martha Alaquinez with Veronica Derello and Oscar Ramirez from Avenida Geveryone.

Hello.

Thank you most of all for having this call. It just hits us right where our heart is, actually. Stories, we've got many. Questions, we just have one. We need more funding because we have discovered that this coaching, advising, onein our community, but in our city and our surrounding areas.

What we have found most in our areas is that we're predomHispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go. Don't know where to turn. And

infrastructure built where communitycommunity would be able to offer this kind of financial advice to the lowand modest-income families living and working in those communit

Another thing that we wanted to demonstrate on this call is that the financial counseling or financial coaching model is very adaptable. And you can implement it in your organization in a variety of different ways, tailored to your community and tayou're already involved in. So you heard really three distinct ways of integrating the program, but many of them have the same core values and aspects. They offer timely advice when somebody needs it. They offer a

ivate, safe place where families can ask real questions that have to do with their budget and their personal money issues. It's culturally relevant to them, delivered in their preferred language.

It also is product-specific so that you're giving people about the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit history at all, and opening bank accounts. These are real, tangible results that are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help purchase and accumulate assets.



Yes, hello. This is Martha Alaquinez with Veronica Derello and Oscar Ramirez from Avenida G

Thank you most of all for having this call. It just hits us right where our heart is, actually. Stories, we've got many. Questions, we just have one.

d more funding because we have discovered that this coaching, advising, one-on-one counseling is just very, very important and not only in our community, but in our city and our surrounding areas.

What we have found most in our areas is that we're predomHispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go. Don't know where to turn. And

infrastructure built where communitycommunity would be able to offer this kind of financial advice to the low

income families living and working in those communit

Another thing that we wanted to demonstrate on this call is that the financial counseling or financial coaching model is very adaptable. And you can implement it in your organization in a variety of different ways, tailored to your community and tailored to the kinds of programs that you're already involved in. So you heard really three distinct ways of integrating the program, but many of them have the same core values and aspects. They offer timely advice when somebody needs it. They offer a


specific so that you're giving people about the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit

ning bank accounts. These are real, tangible results that are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help purchase and accumulate assets.



Yes, hello. This is Martha Alaquinez with Veronica Derello and Oscar Ramirez from Avenida Guadalupe Association in San Antonio. Hello


d more funding because we have discovered that this coaching, one counseling is just very, very important and not only

in our community, but in our city and our surrounding areas.

What we have found most in our areas is that we're predomHispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go. Don't know where to turn. And they have this idea that financial advisors

infrastructure built where community-based organizations in every community would be able to offer this kind of financial advice to the low

income families living and working in those communit

Another thing that we wanted to demonstrate on this call is that the financial counseling or financial coaching model is very adaptable. And you can implement it in your organization in a variety of different ways,

ilored to the kinds of programs that you're already involved in. So you heard really three distinct ways of integrating the program, but many of them have the same core values and aspects. They offer timely advice when somebody needs it. They offer a


specific so that you're giving people about the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit

ning bank accounts. These are real, tangible results that are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help



Yes, hello. This is Martha Alaquinez with Veronica Derello and Oscar uadalupe Association in San Antonio. Hello




What we have found most in our areas is that we're predomHispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go.

they have this idea that financial advisors

based organizations in every

community would be able to offer this kind of financial advice to the lowincome families living and working in those communit



ivate, safe place where families can ask real questions that have to do with their budget and their personal money issues. It's culturally relevant

specific so that you're giving people the information about the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit

ning bank accounts. These are real, tangible results that are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help






What we have found most in our areas is that we're predomHispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go.


based organizations in every

community would be able to offer this kind of financial advice to the lowincome families living and working in those communities.




the information about the product at the time when they're about to use that financial product. And all of these programs have been able to demonstrate real results: savings, increases in their credit scores, establishing a credit

ning bank accounts. These are real, tangible results that are going to move our families into a path toward a more secure financial future, and hopefully up in sophistication, so that they are moving onto bigger and better products that are going to help them





What we have found most in our areas is that we're predominantly a Hispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go.


11

community would be able to offer this kind of financial advice to the low-

ies.

financial counseling or financial coaching model is very adaptable. And you can implement it in your organization in a variety of different ways,

you're already involved in. So you heard really three distinct ways of integrating the program, but many of them have the same core values and aspects. They offer timely advice when somebody needs it. They offer a


the information

product. And all of these programs have been able to demonstrate real

ning bank accounts. These are real, tangible results




Hispanic community, but it's pretty much the same across the board where there is fear, not only of people that don't know where the economy is going, the housing market, but those who just don't know where to go.


Janis Bowdler:

Martha Alaquinez:

Operator:

Pat Tracey:

Janis Bowdler:

Pat Tracey:

Janis Bowdler:

Janis Bowdler:

Martha Alaquinez:

Operator:

Pat Tracey:

Janis Bowdler:

Pat Tracey:

Janis Bowdler:

are only for the rich. You have to pay for that and we have to debunk that myth, so we spread the word that everyone deserves financial counseling and advisement because of that fear with the economy and not knowhat to do with their money.

A lot of the foreclosure folks that come through here come in a crisis. We do a lot of crisis budgeting and just getting down to the basic needs of a family. And, of course, we can't treat them just onetreat the whole family. And as she mentioned earlier, it's tough to just treat somebody like an account. There are real lives being affected. And to make an impact on that family, we have to treat them respectfully and address their needs as much as

Thank you very much.

Sure, thank you.

Our next question comes from Pat Tracey.

Hi. Pat Tracey and I'm with Real Estate Education and Community Housing in Palm Beach Gardens, Florida. Andvery much enjoyed hearing all the discussion. And we are a HUDapproved agency. We do a lot of firstcredit and budget counseling as well as the modification foreclosure counseling.

And working down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development account, the IDAs. If greater funding were establishedmaybe that's already under considerationhave a more solid savings plan, or he may put it towards education as I understand it, or even a small business. We need those financial funds for 101 counseling, but wtheir money and understand that savings is a very important part.

So it brings me to the question, will there be additional funding for this purpose? Both for the IDAs and the individual counseling necmake our financial counseling programs a success?

Thank you so much. Is it Pat?

Pat, yes.

Thank you. You know what, Pat? I actually am not sure. The budget just came out, and I confess I don't know




Sure, thank you.


Hi. Pat Tracey and I'm with Real Estate Education and Community Housing in Palm Beach Gardens, Florida. Andvery much enjoyed hearing all the discussion. And we are a HUDapproved agency. We do a lot of firstcredit and budget counseling as well as the modification foreclosure counseling.

And working with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development account, the IDAs. If greater funding were establishedmaybe that's already under considerationhave a more solid savings plan, or he may put it towards education as I understand it, or even a small business. We need those financial funds for 101 counseling, but we also need the IDA plans to help those people grow their money and understand that savings is a very important part.






we can.



Hi. Pat Tracey and I'm with Real Estate Education and Community Housing in Palm Beach Gardens, Florida. Andvery much enjoyed hearing all the discussion. And we are a HUDapproved agency. We do a lot of firstcredit and budget counseling as well as the modification foreclosure

with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development account, the IDAs. If greater funding were establishedmaybe that's already under considerationhave a more solid savings plan, or he may put it towards education as I understand it, or even a small business. We need those financial funds for

e also need the IDA plans to help those people grow their money and understand that savings is a very important part.




are only for the rich. You have to pay for that and we have to debunk that myth, so we spread the word that everyone deserves financial counseling and advisement because of that fear with the economy and not kno

A lot of the foreclosure folks that come through here come in a crisis. We do a lot of crisis budgeting and just getting down to the basic needs of a family. And, of course, we can't treat them just onetreat the whole family. And as she mentioned earlier, it's tough to just treat somebody like an account. There are real lives being affected. And to make an impact on that family, we have to treat them respectfully and

we can.


Hi. Pat Tracey and I'm with Real Estate Education and Community Housing in Palm Beach Gardens, Florida. Andvery much enjoyed hearing all the discussion. And we are a HUDapproved agency. We do a lot of first-time homebuyer counseling and credit and budget counseling as well as the modification foreclosure

with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development account, the IDAs. If greater funding were establishedmaybe that's already under consideration I think the homebuyer would have a more solid savings plan, or he may put it towards education as I understand it, or even a small business. We need those financial funds for




off the top of my head what the

are only for the rich. You have to pay for that and we have to debunk that myth, so we spread the word that everyone deserves financial counseling and advisement because of that fear with the economy and not kno

A lot of the foreclosure folks that come through here come in a crisis. We do a lot of crisis budgeting and just getting down to the basic needs of a family. And, of course, we can't treat them just one-on-one; we havetreat the whole family. And as she mentioned earlier, it's tough to just treat somebody like an account. There are real lives being affected. And to make an impact on that family, we have to treat them respectfully and

Hi. Pat Tracey and I'm with Real Estate Education and Community Housing in Palm Beach Gardens, Florida. And

this was very timely. I very much enjoyed hearing all the discussion. And we are a HUD

time homebuyer counseling and credit and budget counseling as well as the modification foreclosure

with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development account, the IDAs. If greater funding were established

for the IDAsI think the homebuyer would

have a more solid savings plan, or he may put it towards education as I understand it, or even a small business. We need those financial funds for



Thank you. You know what, Pat? I actually am not sure. The budget just off the top of my head what the

are only for the rich. You have to pay for that and we have to debunk that myth, so we spread the word that everyone deserves financial counseling and advisement because of that fear with the economy and not knowing

A lot of the foreclosure folks that come through here come in a crisis. We do a lot of crisis budgeting and just getting down to the basic needs of a

one; we have

to

treat the whole family. And as she mentioned earlier, it's tough to just treat somebody like an account. There are real lives being affected. And to make an impact on that family, we have to treat them respectfully and

Hi. Pat Tracey and I'm with Real Estate Education and Community this was very timely. I

very much enjoyed hearing all the discussion. And we are a HUD-time homebuyer counseling and

credit and budget counseling as well as the modification foreclosure

with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development

for the IDAsI think the homebuyer would



So it brings me to the question, will there be additional funding for this purpose? Both for the IDAs and the individual counseling necessary to

Thank you. You know what, Pat? I actually am not sure. The budget just off the top of my head what the

12

are only for the rich. You have to pay for that and we have to debunk that myth, so we spread the word that everyone deserves financial counseling

wing

A lot of the foreclosure folks that come through here come in a crisis. We do a lot of crisis budgeting and just getting down to the basic needs of a

to treat the whole family. And as she mentioned earlier, it's tough to just treat somebody like an account. There are real lives being affected. And to make an impact on that family, we have to treat them respectfully and

this was very timely. I

time homebuyer counseling and

with lenders, we've recognized that those who put an earned down payment into the loan are more successful in home retention than gift bought. And that sort of brings me to the individual development

and I think the homebuyer would


e also need the IDA plans to help those people grow

So it brings me to the question, will there be additional funding for this essary to

Thank you. You know what, Pat? I actually am not sure. The budget just

Anthony Santiago:

Janis Bowdler:

Annette Eboten:

Janis Bowdler:

Annette Eboten:

Anthony Santiago:

Janis Bowdler:

Annette Eboten:

Janis Bowdler:

Annette Eboten:

funding was for IDAs. But we'll certainly take a look at that and get back to you.

The second part of your question on whether or not there is additional funding under consideration for financial counseling: right now, The financial education and counseling pilot program that is currently at the CDFI Fund within the Treasury, which is right now the only source of federal funds available for this kind of financial counselingjust a pilot programin terms of advocacy, it's certainly on NCLR's radar.

We're going to be pushing hard and we would invite everybody on the phone to write your House representatives and senators to tell them that funding forbudget season and it's something that NCLR will certainly be focused on.

I don't know if other panelists want to speak to that.

I just want to give a shout out to our senatorin this issue. That's all I want to add at this moment.

Great, thanks. Is there another question out there?

Hi. This is Annette Eboten from Lawrence CommunityWorks [LCW]. And I have Reyn

Hey, how are you guys?

We're doing good, thank you. We would like to thank you first of all for this opportunity to voice that there's such a great need in all of our communities for individ

Here in Lawrence CommunityWorks we have been doing IDAs. And I have to agree with all of you and all of the other comments that this is such a great need in our communities because it makes such a great difference for our members.

Also, we have been doing the financial literacy workshops every month. For our members to participate in our financial literacy, they also have to come in to oneone. They come to the first meinformation and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credi

funding was for IDAs. But we'll certainly take a look at that and get back

The second part of your question on whether or not there is additional funding under consideration for financial counseling: right now, The financial education and counseling pilot program that is currently at the CDFI Fund within the Treasury, which is right now the only source of federal funds available for this kind of financial counselingjust a pilot program was in terms of advocacy, it's certainly on NCLR's radar.

We're going to be pushing hard and we would invite everybody on the phone to write your House representatives and senators to tell them that funding for

this kind of program is really important. We're going into budget season and it's something that NCLR will certainly be focused on.




Hi. This is Annette Eboten from Lawrence CommunityWorks [LCW]. And I have Reyna Burgos right next to me. Hi.


We're doing good, thank you. We would like to thank you first of all for this opportunity to voice that there's such a great need in all of our communities for individ


Also, we have been doing the financial literacy workshops every month. For our members to participate in our financial literacy, they also have to come in to one-on-one counseling. I think first they don't see the need for one. They come to the first meinformation and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credi


The second part of your question on whether or not there is additional funding under consideration for financial counseling: right now, The financial education and counseling pilot program that is currently at the CDFI Fund within the Treasury, which is right now the only source of federal funds available for this kind of financial counseling

was not included in the president's 2011 budget. So in terms of advocacy, it's certainly on NCLR's radar.

We're going to be pushing hard and we would invite everybody on the phone to write your House representatives and senators to tell them that





Hi. This is Annette Eboten from Lawrence CommunityWorks [LCW]. a Burgos right next to me. Hi.


We're doing good, thank you. We would like to thank you first of all for this opportunity to voice that there's such a great need in all of our communities for individual counseling.


Also, we have been doing the financial literacy workshops every month. For our members to participate in our financial literacy, they also have to

one counseling. I think first they don't see the need for one. They come to the first meeting. They understand that it is good information and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credi



not included in the president's 2011 budget. So in terms of advocacy, it's certainly on NCLR's radar.




I just want to give a shout out to our senator

for his efforts and his support in this issue. That's all I want to add at this moment.



We're doing good, thank you. We would like to thank you first of all for this opportunity to voice that there's such a great need in all of our

ual counseling.

Here in Lawrence CommunityWorks we have been doing IDAs. And I have to agree with all of you and all of the other comments that this is such a great need in our communities because it makes such a great


one counseling. I think first they don't see the need for eting. They understand that it is good

information and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credi



not included in the president's 2011 budget. So in terms of advocacy, it's certainly on NCLR's radar.




for his efforts and his support in this issue. That's all I want to add at this moment.







information and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credi


The second part of your question on whether or not there is additional funding under consideration for financial counseling: right now, it's not. The financial education and counseling pilot program that is currently at the CDFI Fund within the Treasury, which is right now the only source of federal funds available for this kind of financial counseling and it was

not included in the president's 2011 budget. So



for his efforts and his support

Hi. This is Annette Eboten from Lawrence CommunityWorks [LCW].





information and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and also the opportunities that they have if they work with their credit scores.

13


The second part of your question on whether or not there is additional it's not.

The financial education and counseling pilot program that is currently at the CDFI Fund within the Treasury, which is right now the only source of

and it was not included in the president's 2011 budget. So



for his efforts and his support

Hi. This is Annette Eboten from Lawrence CommunityWorks [LCW].

We're doing good, thank you. We would like to thank you first of all for

Here in Lawrence CommunityWorks we have been doing IDAs. And I have to agree with all of you and all of the other comments that this is


one counseling. I think first they don't see the need for

information and that the counselors can help them, that they can learn what their credit is saying, what their credit score is saying about them and

t scores.

Janis Bowdler:

Annette Eboten:

Janis Bowdler:

Kristen Komara:

Janis Bowdler:

Annette Eboten:

Janis Bowdler:

Kristen Komara:

Again, I would like to voice that we need more funding. Everybody that is in this call and every credit company needs more funding for financial counseling because it's a great program for our low

LCW has a great program thatmodels; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest the money to become business owners.

We also came up with a welcome hoready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we have been able to counsel almost 400 foreclosure clients. I will say out of all the positive outcomes, 75% of them avoided foreclosure. We also produced 88 firsthomebuyers.

That's reallyprogram. Thank you.

You're welcome. And again, thank you so much for this opportunity. And please let us know what we need to do to tell Congress that financial counseling is

Great, thank you. There are other questions or comments on the line?

I just wanted to make a comment. This is Kristen from The Resurrection Project. Something that I've just been thinkialluded to itcounseling. She was talking about how a lot of times when folks first start the financial literacy program they don't know that they need it or they don't know wha

And I think in middlefinancial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to know how to plan it. BWell, I don't have that much money, so what do I need a financial

planner for? Or what do I need financial counseling for?

But, really, we recognize the importance of good financial information and financial counseling across all income levels. And even though families may not have large amounts of money at this moment, I mean the whole point of the work that we're doing is to help them create wealth, and to help them think long


LCW has a great program thatmodels; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest the money to become business owners.

We also came up with a welcome hoready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we

been able to counsel almost 400 foreclosure clients. I will say out of all the positive outcomes, 75% of them avoided foreclosure. We also produced 88 first-time homeowners last year and counseled 294 firsthomebuyers.

That's really

great. I know you guys have had a lot of success with that program. Thank you.

You're welcome. And again, thank you so much for this opportunity. And please let us know what we need to do to tell Congress that financial counseling is important and that we all need it.


I just wanted to make a comment. This is Kristen from The Resurrection Project. Something that I've just been thinkialluded to it I mean this idea of financial planning and financial counseling. She was talking about how a lot of times when folks first start the financial literacy program they don't know that they need it or they don't know what value they can get out of it.

And I think in middle-financial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to know how to plan it. BWell, I don't have that much money, so what do I need a financial


But, really, we recognize the importance of good financial information and al counseling across all income levels. And even though families

may not have large amounts of money at this moment, I mean the whole point of the work that we're doing is to help them create wealth, and to help them think long-term, and to help them plan


LCW has a great program that

has helped families. We have different

models; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest the money to become business owners.

We also came up with a welcome hoready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we

been able to counsel almost 400 foreclosure clients. I will say out of all the positive outcomes, 75% of them avoided foreclosure. We also

time homeowners last year and counseled 294 first

great. I know you guys have had a lot of success with that

You're welcome. And again, thank you so much for this opportunity. And please let us know what we need to do to tell Congress that financial

important and that we all need it.


I just wanted to make a comment. This is Kristen from The Resurrection Project. Something that I've just been thinki

I mean this idea of financial planning and financial counseling. She was talking about how a lot of times when folks first start the financial literacy program they don't know that they need it or they

t value they can get out of it.

-income and upperfinancial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to know how to plan it. But a lot of times lowerWell, I don't have that much money, so what do I need a financial



may not have large amounts of money at this moment, I mean the whole point of the work that we're doing is to help them create wealth, and to

term, and to help them plan


has helped families. We have different models; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest the money to become business owners.

We also came up with a welcome home model, which is for mortgageready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we







I just wanted to make a comment. This is Kristen from The Resurrection Project. Something that I've just been thinking, and she just sort of


t value they can get out of it.

income and upper-middlefinancial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to

ut a lot of times lower-Well, I don't have that much money, so what do I need a financial





Again, I would like to voice that we need more funding. Everybody that is in this call and every credit company needs more funding for financial counseling because it's a great program for our low-income members.

has helped families. We have different models; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest

me model, which is for mortgageready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we







I just wanted to make a comment. This is Kristen from The Resurrection ng, and she just sort of


middle-income families, financial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to

-income families think, Well, I don't have that much money, so what do I need a financial





for their future. So I

Again, I would like to voice that we need more funding. Everybody that is in this call and every credit company needs more funding for financial

income members.


models; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest

me model, which is for mortgageready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we


time homeowners last year and counseled 294 first-time




I just wanted to make a comment. This is Kristen from The Resurrection ng, and she just sort of


income families, financial planning is very common and it's seen as something that is needed because you have money, and you have wealth, and you need to

income families think, Well, I don't have that much money, so what do I need a financial




14

Again, I would like to voice that we need more funding. Everybody that is in this call and every credit company needs more funding for financial


models; we have the community IDA that leads participants to become homeowners, but they can also invest their money for education, or invest

me model, which is for mortgage-ready clients. It's six months and they can save money and come to the credit counseling and also participate in other financial literacy workshops that we provide. Because of this program and others that we have, we


time



I just wanted to make a comment. This is Kristen from The Resurrection

counseling. She was talking about how a lot of times when folks first start the financial literacy program they don't know that they need it or they

needed because you have money, and you have wealth, and you need to




Janis Bowdler:

Operator:

Dorothy Herrera:

Janis Bowdler:

Anthony Santiago:

Janis Bowdler:

Operator:

Dorothy Herrera:

Janis Bowdler:

Anthony Santiago:

think that's almost like a shift in thinking that we need to address as we increase these efforts.

I think that's such a good point. Sometimes our families don't know what they don't know and they don't always knowask. But when they come into organizations like yours or any of the ones that we've heard from, being able to guide them towards that advice is invaluable.

Other questions or comments? Or other comments from the speakers awell?

Our next question comes from Dorothy Herrera.

Hi, I'm an attorney with the Legal Aide Foundation of Los Angeles. And I just think all of this is so critical. I do mostly foreclosure work right now in the last year andinformation people have.

My question is, how are the banks on providing funding maybe through the American Recovery and Reinvestment Act, or how are they on providing funding for these kinds of servi

First of all, Dorothy, it's good to hear from you. This is Janis. Banks have been involved for a long time in funding financial literacy programs. And on occasion they've really treated it like a branding opportunity, an opportunityfor the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the community. And I would just challenge, or I do those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding opportunity topotential clients.

I don't know if any of the speakers want to talk a little bit about how successful you have or have not been in getting funding from local banks?

I just wantwasn't a line item; it wasn't a program that we had funded. It was just something that we knew was important. Free tax preparation is great, but unless you're being able to engage folks in of their annual income in one lump sum canthat, then that's a seriously missed opportunity.

think that's almost like a shift in thinking that we need to address as we increase these efforts.

I think that's such a good point. Sometimes our families don't know what they don't know and they don't always knowask. But when they come into organizations like yours or any of the ones that we've heard from, being able to guide them towards that advice is invaluable.

Other questions or comments? Or other comments from the speakers a


Hi, I'm an attorney with the Legal Aide Foundation of Los Angeles. And I just think all of this is so critical. I do mostly foreclosure work right now in the last year and

a half. And it's seriously appalling just how little information people have.


First of all, Dorothy, it's good to hear from you. This is Janis. Banks have been involved for a long time in funding financial literacy programs. And on occasion they've really treated it like a branding opportunity, an opportunity

to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the community. And I would just challenge, or I do those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding opportunity to

the opportunity to build longpotential clients.


I just want

to say that when we first started doing financial education, it wasn't a line item; it wasn't a program that we had funded. It was just something that we knew was important. Free tax preparation is great, but unless you're being able to engage folks in of their annual income in one lump sum canthat, then that's a seriously missed opportunity.

think that's almost like a shift in thinking that we need to address as we

I think that's such a good point. Sometimes our families don't know what they don't know and they don't always knowask. But when they come into organizations like yours or any of the ones that we've heard from, being able to guide them towards that advice is



Hi, I'm an attorney with the Legal Aide Foundation of Los Angeles. And I just think all of this is so critical. I do mostly foreclosure work right now

a half. And it's seriously appalling just how little information people have.


First of all, Dorothy, it's good to hear from you. This is Janis. Banks have been involved for a long time in funding financial literacy programs. And on occasion they've really treated it like a branding opportunity, an

to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the community. And I would just challenge, or I do those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding

the opportunity to build long


to say that when we first started doing financial education, it wasn't a line item; it wasn't a program that we had funded. It was just something that we knew was important. Free tax preparation is great, but unless you're being able to engage folks in of their annual income in one lump sum canthat, then that's a seriously missed opportunity.


I think that's such a good point. Sometimes our families don't know what they don't know and they don't always know

the exact right questions to

ask. But when they come into organizations like yours or any of the ones that we've heard from, being able to guide them towards that advice is




a half. And it's seriously appalling just how little

My question is, how are the banks on providing funding maybe through the American Recovery and Reinvestment Act, or how are they on providing funding for these kinds of services?


to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the community. And I would just challenge, or I do those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding

the opportunity to build long-term relationships with the


to say that when we first started doing financial education, it wasn't a line item; it wasn't a program that we had funded. It was just something that we knew was important. Free tax preparation is great, but unless you're being able to engage folks in a substantial way on what 40% of their annual income in one lump sum canthat, then that's a seriously missed opportunity.


I think that's such a good point. Sometimes our families don't know what the exact right questions to






My question is, how are the banks on providing funding maybe through the American Recovery and Reinvestment Act, or how are they on


to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the community. And I would just challenge, or I do routinely challenge, all of those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding

term relationships with the


to say that when we first started doing financial education, it wasn't a line item; it wasn't a program that we had funded. It was just something that we knew was important. Free tax preparation is great, but

a substantial way on what 40% what could be done with

that, then that's a seriously missed opportunity.







My question is, how are the banks on providing funding maybe through the American Recovery and Reinvestment Act, or how are they on


to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the

routinely challenge, all of those, our friends within the banking industry, to really think about a deep substantive program like the ones that we're hearing about and make investments in those kinds of programs, and look beyond the branding

term relationships with the




15




Other questions or comments? Or other comments from the speakers as


My question is, how are the banks on providing funding maybe through

First of all, Dorothy, it's good to hear from you. This is Janis. Banks have been involved for a long time in funding financial literacy programs. And

to get out there in front of the community. And I won't speak for the groups on the phone, but I know in general most groups on the ground are happy to partner with local banks that want to do right by the

routinely challenge, all of those, our friends within the banking industry, to really think about a deep

investments in those kinds of programs, and look beyond the branding term relationships with the

successful you have or have not been in getting funding from local banks?




Janis Bowdler:

Daniela Salis:


Janis Bowdler:

Daniela Salis:

So when we started looking for partners in financial education, there were a number of bank partners who weconduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, andshare. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity to open up a bank account

I can say over the yearscontinued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it really was a result of all those, I would say, civicinstitutions who came to the table willing to develop a product that really spoke to our local market. So the banksin both doing financial education and supporting the work of CBOs [communityfrom our perspective.

Jackie Lynn Coleman:This is Jackie Lynn. I wanted to add to Afinancial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from financial institutions on a variety of levels.

And just as an example, NCTC did launch in October a volunteer engagement initiative that purely focuses on engaging more financial institution associates to actually volunteer and support assetinitiatives least six different states. And those financial institution representatives have been trained to be credit report educators, as well as FASFA coaches. Some are doing also budget coaching anit's more than just providing actual dollars for programs, but also making a true long-term commitment to the organizations and the communities in which the banks are located.

Thanks. Did anybody else wanext question?

Yes, this is Daniela Salis with the Mission Asset Fund. I also wanted to echo the comments that in our case it has been really important to continue the work we are doing with the cIt's really important that, for example, when a client comes through our lending and is getting ready to then become

So when we started looking for partners in financial education, there were a number of bank partners who weconduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, andshare. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity to open up a bank account

I can say over the yearscontinued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it really was a result of all those, I would say, civicinstitutions who came to the table willing to develop a product that really spoke to our local market. So the banksin both doing financial education and supporting the work of CBOs [community-based organizations] like ours. So that's what I could say from our perspective.

This is Jackie Lynn. I wanted to add to Afinancial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from

l institutions on a variety of levels.

And just as an example, NCTC did launch in October a volunteer engagement initiative that purely focuses on engaging more financial institution associates to actually volunteer and support assetinitiatives across several different communities. And currently we're in at least six different states. And those financial institution representatives have been trained to be credit report educators, as well as FASFA coaches. Some are doing also budget coaching anit's more than just providing actual dollars for programs, but also making a

term commitment to the organizations and the communities in which the banks are located.

Thanks. Did anybody else wanext question?

Yes, this is Daniela Salis with the Mission Asset Fund. I also wanted to echo the comments that in our case it has been really important to continue the work we are doing with the cIt's really important that, for example, when a client comes through our lending and is getting ready to then become

So when we started looking for partners in financial education, there were a number of bank partners who weconduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, andshare. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity to open up a bank account, even better. But it was all about education.

I can say over the years and I m going back again to about 2004continued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it really was a result of all those, I would say, civicinstitutions who came to the table willing to develop a product that really spoke to our local market. So the banksin both doing financial education and supporting the work of CBOs

based organizations] like ours. So that's what I could say

This is Jackie Lynn. I wanted to add to Afinancial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from


And just as an example, NCTC did launch in October a volunteer engagement initiative that purely focuses on engaging more financial institution associates to actually volunteer and support asset

across several different communities. And currently we're in at least six different states. And those financial institution representatives have been trained to be credit report educators, as well as FASFA coaches. Some are doing also budget coaching anit's more than just providing actual dollars for programs, but also making a

term commitment to the organizations and the communities in which the banks are located.

Thanks. Did anybody else want to speak to that or should we go to the

Yes, this is Daniela Salis with the Mission Asset Fund. I also wanted to echo the comments that in our case it has been really important to continue the work we are doing with the community. We see it as more as a bridge. It's really important that, for example, when a client comes through our lending and is getting ready to then become

So when we started looking for partners in financial education, there were a number of bank partners who were willing to provide space for us to conduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, andshare. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity

, even better. But it was all about education.

and I m going back again to about 2004continued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it really was a result of all those, I would say, civicinstitutions who came to the table willing to develop a product that really spoke to our local market. So the banks

have been incredibly supportive in both doing financial education and supporting the work of CBOs


This is Jackie Lynn. I wanted to add to Anthony's statement as well. The financial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from



across several different communities. And currently we're in at least six different states. And those financial institution representatives have been trained to be credit report educators, as well as FASFA coaches. Some are doing also budget coaching and a slew of other services, so that it's more than just providing actual dollars for programs, but also making a

term commitment to the organizations and the communities in

nt to speak to that or should we go to the

Yes, this is Daniela Salis with the Mission Asset Fund. I also wanted to echo the comments that in our case it has been really important to continue

ommunity. We see it as more as a bridge. It's really important that, for example, when a client comes through our lending and is getting ready to then become

So when we started looking for partners in financial education, there were

re willing to provide space for us to conduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, andshare. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity


and I m going back again to about 2004continued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it really was a result of all those, I would say, civic-minded banking institutions who came to the table willing to develop a product that really



nthony's statement as well. The financial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from


across several different communities. And currently we're in at least six different states. And those financial institution representatives have been trained to be credit report educators, as well as FASFA coaches.

d a slew of other services, so that it's more than just providing actual dollars for programs, but also making a




ommunity. We see it as more as a bridge. It's really important that, for example, when a client comes through our

going through a more


re willing to provide space for us to conduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that were willing to open up their branches, invite the community in, and

share. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity


and I m going back again to about 2004 that's continued to be the case. More and more, we've been able to develop really good relationships with our banking community. Newark just launched a bank on [inaudible] program in the fall of this year, and it

minded banking institutions who came to the table willing to develop a product that really



nthony's statement as well. The financial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition is that there has been an increase of support across the country from

And just as an example, NCTC did launch in October a volunteer engagement initiative that purely focuses on engaging more financial institution associates to actually volunteer and support asset-building







going through a more

16


re willing to provide space for us to conduct these workshops. Again, it wasn't something that we were funded to do, but we knew it was critical, so I found a number of institutions that

share. And it wasn't about a hard sales pitch; it was just about community bankers wanting to educate the people within their city. If folks wanted to grab a business card afterwards, great. If they took that as an opportunity


that's continued to be the case. More and more, we've been able to develop

institutions who came to the table willing to develop a product that really have been incredibly supportive


nthony's statement as well. The financial institutions have definitely evolved in terms of supporting this work. And so what we've seen at the National Community Tax Coalition







Janis Bowdler:

Operator:

Eileen Wolfington:

Janis Bowdler:

Eileen Wolfington:

Janis Bowdler:

Operator:

Eileen Wolfington:

Janis Bowdler:

Eileen Wolfington:

traditional loan when he goes to the bankwith the banking institutions that are in the neighborhood.

Thanks. Let's go ahead and go to our next question.

Our next question comes from Eileen Wolfington.

Can you hear me?

Yes, please go

Hola. This is Eileen Wolfington from the Federal Reserve Bank of St. Louis. And I'm in the central part of the United States in, well, St. Louis, Missouri, which we call the Heartland. And of course we have an emerging Latino

But I didn't really have a question. I wanted to share a comment. When we talk about the relationships that one can have when we use the term financial institution, I hope that everyone's thinking not only about traditional banks, but also credit unions, especially community development credit unions and community development banks, because they really understand our population and they understand how to deal with the low

Somebody earlier,information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you all is if you have employers that have a large Latino worksometimes if an employer endorses bringing the education to the workplace on the company timeabout their money management, can understand the value of direct deposit, or participating in a 401(k) planwork.

I know that a lot of us need funding to implement the programs that we have. Leverage the banks that have internal volunteer networks. Some of the larger organizations, like PNC, which used to be National City, or Bank of Abanks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't feeintimidated walking into their branches?

And the last organization that you may want to consider when funding is tight there is a national nonprofit called Foundation for Personal Financial Education. They have a speaker's bureau where individuals with

traditional loan when he goes to the bankh the banking institutions that are in the neighborhood.



Can you hear me?

Yes, please go ahead.

. This is Eileen Wolfington from the Federal Reserve Bank of St. Louis. And I'm in the central part of the United States in, well, St. Louis, Missouri, which we call the Heartland. And of course we have an emerging Latino market throughout our footprint.

But I didn't really have a question. I wanted to share a comment. When we talk about the relationships that one can have when we use the term financial institution, I hope that everyone's thinking not only about

nal banks, but also credit unions, especially community development credit unions and community development banks, because they really understand our population and they understand how to deal with the low- to moderate

Somebody earlier,

one of the speakers, talked about bringing the information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you all is if you have employers that have a large Latino worksometimes if an employer endorses bringing the education to the workplace on the company timeabout their money management, can understand the value of direct deposit, or participating in a 401(k) plan

I know that a lot of us need funding to implement the programs that we have. Leverage the banks that have internal volunteer networks. Some of the larger organizations, like PNC, which used to be National City, or Bank of America sometimes they have volunteer networks within their banks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't feeintimidated walking into their branches?

And the last organization that you may want to consider when funding is there is a national nonprofit called Foundation for Personal

Financial Education. They have a speaker's bureau where individuals with

traditional loan when he goes to the bank

h the banking institutions that are in the neighborhood.



. This is Eileen Wolfington from the Federal Reserve Bank of St. Louis. And I'm in the central part of the United States in, well, St. Louis, Missouri, which we call the Heartland. And of course we have an

market throughout our footprint.


nal banks, but also credit unions, especially community development credit unions and community development banks, because they really understand our population and they understand how to deal

to moderate-income population.

one of the speakers, talked about bringing the information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you all is if you have employers that have a large Latino worksometimes if an employer endorses bringing the education to the workplace on the company timeabout their money management, can understand the value of direct deposit, or participating in a 401(k) plan

I know that a lot of us need funding to implement the programs that we have. Leverage the banks that have internal volunteer networks. Some of the larger organizations, like PNC, which used to be National City, or

sometimes they have volunteer networks within their banks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't feeintimidated walking into their branches?



traditional loan when he goes to the bank we really have to work on him








income population.

one of the speakers, talked about bringing the information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you all is if you have employers that have a large Latino worksometimes if an employer endorses bringing the education to the

so that employees can feel less stressed about their money management, can understand the value of direct deposit, or participating in a 401(k) plan that


sometimes they have volunteer networks within their banks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't feeintimidated walking into their branches?



we really have to work on him








one of the speakers, talked about bringing the information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you all is if you have employers that have a large Latino worker base, sometimes if an employer endorses bringing the education to the

so that employees can feel less stressed about their money management, can understand the value of direct

that's something that might


sometimes they have volunteer networks within their banks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't fee







one of the speakers, talked about bringing the information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you

er base, sometimes if an employer endorses bringing the education to the

so that employees can feel less stressed about their money management, can understand the value of direct

's something that might


sometimes they have volunteer networks within their banks where the employer allows them to give service hours into the community. And what better way to bring their information to the community and build those bridges so that our clients don't feel



17


. This is Eileen Wolfington from the Federal Reserve Bank of St. Louis. And I'm in the central part of the United States in, well, St. Louis,

But I didn't really have a question. I wanted to share a comment. When we talk about the relationships that one can have when we use the term

development credit unions and community development banks, because they really understand our population and they understand how to deal

information to where the people are. We just hosted an event that talked about workplace financial education. An idea that I want to plant with you

so that employees can feel less stressed

's something that might


sometimes they have volunteer networks within their

And the last organization that you may want to consider when funding is


Janis Bowdler:

Operator:

Dan Thomas:


Janis Bowdler:

Operator:

Dan Thomas:


various backgrounds from investing to retirement funds, to financial planning, etc.workplace or to a community.

There are many resources out there available to you, so thank you to the National Council of La Raza for bringing this forum together so that we can all share our ideas and leave after hanging up knowing that there are other resources that we can use.

Thank you, Eileen. Do we have more questions out th

Our next question comes from Dan Thomas.

Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here with AmeriCorps VISTA at a nonprofit organifrom Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA program for nexcan construct for our clients here.

What we're going to do this year differently is we're going to on the front end have some sort of a demographic collection tool used to incorporate the stats that we get back from this year's VISTA program and try to implement that for next year and implement that into a training course for next year.

I had two quick question, the first question being primarily for Jackie Lynn. This is a question for you, bucould also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or financially at risk ?

Jackie Lynn Coleman:Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep that in mind and actually seek out to going to meet the needs of their population.

However, in many casesgoing to see courses on budgeting, developing saving and spending plans,

various backgrounds from investing to retirement funds, to financial planning, etc. they provide their workshops free and they can take it to a workplace or to a community.

There are many resources out there available to you, so thank you to the Council of La Raza for bringing this forum together so that we

can all share our ideas and leave after hanging up knowing that there are other resources that we can use.



Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here with AmeriCorps VISTA at a nonprofit organifrom Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA program for next year and also see what sort of financial curriculum we can construct for our clients here.

What we're going to do this year differently is we're going to on the front end have some sort of a demographic collection tool used to incorporate

that we get back from this year's VISTA program and try to implement that for next year and implement that into a training course for

I had two quick question, the first question being primarily for Jackie Lynn. This is a question for you, bucould also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or financially at risk ?

Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep that in mind and actually seek out to going to meet the needs of their population.

However, in many casesgoing to see courses on budgeting, developing saving and spending plans,

various backgrounds from investing to retirement funds, to financial

they provide their workshops free and they can take it to a workplace or to a community.

There are many resources out there available to you, so thank you to the

Council of La Raza for bringing this forum together so that we can all share our ideas and leave after hanging up knowing that there are other resources that we can use. Muchas gracias



Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here with AmeriCorps VISTA at a nonprofit organifrom Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA

t year and also see what sort of financial curriculum we can construct for our clients here.



I had two quick question, the first question being primarily for Jackie Lynn. This is a question for you, bucould also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or

Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep that in mind and actually seek out to going to meet the needs of their population.

However, in many cases and guys, also feel free to chime ingoing to see courses on budgeting, developing saving and spending plans,


they provide their workshops free and they can take it to a


can all share our ideas and leave after hanging up knowing that there are Muchas gracias



Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here with AmeriCorps VISTA at a nonprofit organifrom Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA

t year and also see what sort of financial curriculum we



I had two quick question, the first question being primarily for Jackie Lynn. This is a question for you, but it'll be open for anyone else who could also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or

Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep that in mind and actually seek out to get the appropriate courses that are going to meet the needs of their population.

and guys, also feel free to chime ingoing to see courses on budgeting, developing saving and spending plans,




can all share our ideas and leave after hanging up knowing that there are Muchas gracias.

Thank you, Eileen. Do we have more questions out there?

Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here with AmeriCorps VISTA at a nonprofit organization. I relocated out here from Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA




I had two quick question, the first question being primarily for Jackie t it'll be open for anyone else who

could also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or

Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep

get the appropriate courses that are

and guys, also feel free to chime ingoing to see courses on budgeting, developing saving and spending plans,




can all share our ideas and leave after hanging up knowing that there are

ere?

Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here

zation. I relocated out here from Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA




I had two quick question, the first question being primarily for Jackie t it'll be open for anyone else who

could also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mindfor those who are in grave need of financial coaching; how is a level of counseling different from those who are not as, not at risk or

Wow, that's a really tough question. So the financial coaching classes vary in some particular areas. As was indicated, the audience, the population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep


and guys, also feel free to chime in you're going to see courses on budgeting, developing saving and spending plans,

18



can all share our ideas and leave after hanging up knowing that there are

Good afternoon, everyone. My name is Dan once again. I just moved to the southern portion of the San Joaquin Valley in California. I'm here

zation. I relocated out here from Wisconsin. We are pitted with some very grave challenges. Our VISTA program will be starting this week and one of the things that I'm kind of tasked to do and I'm happy to do is grow and expand the VISTA



implement that for next year and implement that into a training course for

t it'll be open for anyone else who could also chime in, but then a second question is for everyone on the panel. The first question being that I would like to know what a financial course would look like having different levels of financial needs in mind

for those who are in grave need of financial coaching; how is a level of

Wow, that's a really tough question. So the financial coaching classes do

population, may be different based on their actual needs. They re also based on cultural sensitivity issues. And so many of our programs do keep


you're going to see courses on budgeting, developing saving and spending plans,

Daniela Salis:

Janis Bowdler:

Dan Thomas:

Janis Bowdler:

Operator:

Hassan Nicholas:

Daniela Salis:

Janis Bowdler:

Dan Thomas:

Janis Bowdler:

Operator:

Hassan Nicholas:

understanding your credit reportyour own savings goals, whether it's for yourself or for members of your family. So it will vary. In some cases there are also some additional classes around bankruptcy so people can kind of understand the differebetween Chapter 7 and Chapter 13. So again, it varies from one end of the spectrum to the other.

And again, trying to customize it to actually meet the needs of the individual that is actually being served and what their actual priorities are. I hope that begins to answer some of your questions. Does anyone else want to chime in?

I wanted to just add that we really encourage also the client to participate as kind of the popular education model, just trying to encourage them to ask what they would like to learn and really be part of the training itself. I just wanted toparticipated at this level as well.

Dan, one thing we could do for you is maybe follow up with make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm sure if you had a chance to get they'd probably share a lot of really great tips.

All right. Thank you.

Do we have more questions?

Our next question comes from Hassan Nicholas.

Good afternoon. This is Hassan Nicholas from Community Financial Resource Center in South Los Angeles. I really forgot my question, but I just wanted to thank you guys for assembling this together. We're involved with IDA programs as well as Bank of Los Angeleour approach has been to really tailor our financial literacy to the different demographics that make up our audience. So we've had a lot of success doing that as far as tailoring our curriculum.

Also, we like to stress a lot of savings fleverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that piggybacking has b

understanding your credit reportyour own savings goals, whether it's for yourself or for members of your family. So it will vary. In some cases there are also some additional classes around bankruptcy so people can kind of understand the differebetween Chapter 7 and Chapter 13. So again, it varies from one end of the spectrum to the other.

And again, trying to customize it to actually meet the needs of the individual that is actually being served and what their actual priorities are.

e that begins to answer some of your questions. Does anyone else want to chime in?

I wanted to just add that we really encourage also the client to participate as kind of the popular education model, just trying to encourage them to

at they would like to learn and really be part of the training itself. I just wanted to we see that they're a lot more empowered when they have participated at this level as well.

Dan, one thing we could do for you is maybe follow up with make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm sure if you had a chance to get they'd probably share a lot of really great tips.

All right. Thank you.



ternoon. This is Hassan Nicholas from Community Financial Resource Center in South Los Angeles. I really forgot my question, but I just wanted to thank you guys for assembling this together. We're involved with IDA programs as well as Bank of Los Angeleour approach has been to really tailor our financial literacy to the different demographics that make up our audience. So we've had a lot of success doing that as far as tailoring our curriculum.

Also, we like to stress a lot of savings fleverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that piggybacking has been really helpful.

understanding your credit report

and credit needs, being able to develop

your own savings goals, whether it's for yourself or for members of your family. So it will vary. In some cases there are also some additional classes around bankruptcy so people can kind of understand the differebetween Chapter 7 and Chapter 13. So again, it varies from one end of the


e that begins to answer some of your questions. Does anyone else


at they would like to learn and really be part of the training itself. I we see that they're a lot more empowered when they have

participated at this level as well.

Dan, one thing we could do for you is maybe follow up with make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm sure if you had a chance to get your counselors to talk to their counselors, they'd probably share a lot of really great tips.




Also, we like to stress a lot of savings fleverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that

een really helpful.







Dan, one thing we could do for you is maybe follow up with make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm

your counselors to talk to their counselors, they'd probably share a lot of really great tips.



Also, we like to stress a lot of savings for our participants, and just kind leverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that

een really helpful.







Dan, one thing we could do for you is maybe follow up with make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm

your counselors to talk to their counselors,


ternoon. This is Hassan Nicholas from Community Financial Resource Center in South Los Angeles. I really forgot my question, but I just wanted to thank you guys for assembling this together. We're involved with IDA programs as well as Bank of Los Angeleour approach has been to really tailor our financial literacy to the different demographics that make up our audience. So we've had a lot of success

or our participants, and just kind leverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that







Dan, one thing we could do for you is maybe follow up with you and make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm


ternoon. This is Hassan Nicholas from Community Financial Resource Center in South Los Angeles. I really forgot my question, but I just wanted to thank you guys for assembling this together. We're involved with IDA programs as well as Bank of Los Angeles. And I know our approach has been to really tailor our financial literacy to the different demographics that make up our audience. So we've had a lot of success

or our participants, and just kind leverage partnerships with other programs in the community. Since we don't receive a lot of traffic at our center, we have to kind of rely on leveraging other community organizations, and we found that

19


your own savings goals, whether it's for yourself or for members of your

classes around bankruptcy so people can kind of understand the difference between Chapter 7 and Chapter 13. So again, it varies from one end of the

individual that is actually being served and what their actual priorities are. e that begins to answer some of your questions. Does anyone else



make sure that you have the email addresses of Jackie Lynn and maybe some other folks on the phone, if they don't mind that, so that you can ask some more detailed questions. They have a wealth of knowledge and I'm


ternoon. This is Hassan Nicholas from Community Financial Resource Center in South Los Angeles. I really forgot my question, but I

s. And I know our approach has been to really tailor our financial literacy to the different demographics that make up our audience. So we've had a lot of success

or our participants, and just kind leverage partnerships with other programs in the community. Since we

Janis Bowdler:

Daniela Salis:


Janis Bowdler:

Operator:

Janis Bowdler:

Daniela Salis:


Janis Bowdler:

Operator:

But I would kind of like to know if there's anything in thethe bank industrymore suitable for that lowmean, we see a lot and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches in the area and things like that. So is there any wogetting more creative with how they're going to market to this community and how they're going to penetrate that market?

That is an agepartners to do more to get inMany, many times we see payday lenders and check cashers and, quite frankly, the subprime mortgage lenders that did a much better job outreaching to our community. And hopefully as we see some of the regulatory reforms on Capital Hill move forward, we'll be able to answer at least some of those questions.

One provision that NCLR is supporting is the creation of a consumer financial protection agency that would bring more of those players into the federal regulatory fold, give us real rules of the road and accountability for those kinds of institutions.

And also for a long time we've been supporting predatory mortgage reform. That's something that I don't see moving this year, but we're going to continueprovisions out there that can start to answer some of these questions.

So we will continue to be working on them and we encourage you to stay tuned and to take that message directly to your legislators. want to comment on that?

If not, I know we still have some questions. We're about at the end of our hour. Let me just do a time check with our panelists. I see that we have a few more questions. Do you have another ten minutes to stick wit

Sure.

Jackie Lynn Coleman:Yes that would be fine.

Okay, let's go another ten minutes and see if we can't fit in a couple more questions.

Our next question comes from Jess Sendors.

But I would kind of like to know if there's anything in thethe bank industry if they're working on any kind of products that are more suitable for that lowmean, we see a lot of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches in the area and things like that. So is there any wogetting more creative with how they're going to market to this community and how they're going to penetrate that market?

That is an age-old question in my opinion. We try to push our bank partners to do more to get inMany, many times we see payday lenders and check cashers and, quite frankly, the subprime mortgage lenders that did a much better job outreaching to our community. And hopefully as we see some of the

ory reforms on Capital Hill move forward, we'll be able to answer at least some of those questions.

One provision that NCLR is supporting is the creation of a consumer financial protection agency that would bring more of those players into the

regulatory fold, give us real rules of the road and accountability for those kinds of institutions.

And also for a long time we've been supporting predatory mortgage reform. That's something that I don't see moving this year, but we're going to continue

to push for it. And there are a number of other provisions out there that can start to answer some of these questions.



Yes that would be fine.

Okay, let's go another ten minutes and see if we can't fit in a couple more


But I would kind of like to know if there's anything in the

if they're working on any kind of products that are more suitable for that low- to moderate

of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches in the area and things like that. So is there any wogetting more creative with how they're going to market to this community and how they're going to penetrate that market?

old question in my opinion. We try to push our bank partners to do more to get into the community and you put it exactly right. Many, many times we see payday lenders and check cashers and, quite frankly, the subprime mortgage lenders that did a much better job outreaching to our community. And hopefully as we see some of the

ory reforms on Capital Hill move forward, we'll be able to answer at least some of those questions.


regulatory fold, give us real rules of the road and accountability for those kinds of institutions.

And also for a long time we've been supporting predatory mortgage reform. That's something that I don't see moving this year, but we're




Yes that would be fine.




if they're working on any kind of products that are to moderate-income demographic. Because, I

of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches in the area and things like that. So is there any wogetting more creative with how they're going to market to this community and how they're going to penetrate that market?

old question in my opinion. We try to push our bank to the community and you put it exactly right.

Many, many times we see payday lenders and check cashers and, quite frankly, the subprime mortgage lenders that did a much better job outreaching to our community. And hopefully as we see some of the

ory reforms on Capital Hill move forward, we'll be able to answer


regulatory fold, give us real rules of the road and accountability for



So we will continue to be working on them and we encourage you to stay tuned and to take that message directly to your legislators.





if they're working on any kind of products that are income demographic. Because, I

of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches in the area and things like that. So is there any word of banks, I guess, getting more creative with how they're going to market to this community and how they're going to penetrate that market?








So we will continue to be working on them and we encourage you to stay tuned and to take that message directly to your legislators.



I guess with


of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches

rd of banks, I guess, getting more creative with how they're going to market to this community








So we will continue to be working on them and we encourage you to stay tuned and to take that message directly to your legislators. Did others

If not, I know we still have some questions. We're about at the end of our hour. Let me just do a time check with our panelists. I see that we have a few more questions. Do you have another ten minutes to stick with us?


20

I guess with


of check cashing and payday loan vendors in this area and they seem to be doing a better job at marketing to that community than a lot of the banking institutions. And there's really a lack of branches

rd of banks, I guess, getting more creative with how they're going to market to this community

to the community and you put it exactly right. Many, many times we see payday lenders and check cashers and, quite


financial protection agency that would bring more of those players into the regulatory fold, give us real rules of the road and accountability for

So we will continue to be working on them and we encourage you to stay Did others

If not, I know we still have some questions. We're about at the end of our hour. Let me just do a time check with our panelists. I see that we have a

h us?


Jess Sendors:

Kristen Komara:

Anthony Santiago:

Jess Sendors:

Kristen Komara:

Anthony Santiago:

Hi, Janis. City. I had a couple of questions. And Kristen got a little way towards the first one. What kind of caseload are you looking at for these financial coaches? I mean how many clients can they

Well I can just say for our program, I think it really depends on how you structure your program and what are the goals for your program. When we put our program together, we really wantedyear program. So we intend for all of our participants to commit to a three-year period where we're going to be working with them oneAnd so the whole intention of our program and the goal of the program is much more intense. So we have 109 women enrollethis year we'll have 175, and probably another 40 or 50 in 2011.

We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came through the Recovery Act, bring onas another financial counselor because we found that the one financial counselor we had wasn't enough for these 109 women because they were meetingor at least once a quarter for a counseling session. They also go through a 19-week financial education

So I think that's where again resources become a really key issue and understanding what is a reasonable caseload and to be able to exresults. There's always a balance between managing your caseload and in the same quantity versus then quality. So those are just my two cents in about that.

This is Anthony again. I would just like to follow up. And I think thatexactly it. It's based on resources. Currently, we were able to get support for a financial coach to come in once a week and when they do come in, they can only see ten people. So right now we're booked all through the month of February. So if we arisn't until the first week of March that we can even squeeze somebody in.

The issue is what we have available in terms of time slots versus the need. If I could bring in a coach more than once a week, then I woustill be booked through March, but we'd be able to see twice the same amount of folks.

So I do want to give another kind of credit to the Certified Financial Planners Association of New Jersey because they were key in providing a volunteer whomonths, 9:00 to 5:00, five days a week. This particular individual was working on his certification and he was able to use the planning that he did

How are you? This is Jess Sendors with El Centro in Kansas City. I had a couple of questions. And Kristen got a little way towards the first one. What kind of caseload are you looking at for these financial coaches? I mean how many clients can they

Well I can just say for our program, I think it really depends on how you structure your program and what are the goals for your program. When we put our program together, we really wanted

ram. So we intend for all of our participants to commit to a year period where we're going to be working with them one

And so the whole intention of our program and the goal of the program is much more intense. So we have 109 women enrollethis year we'll have 175, and probably another 40 or 50 in 2011.

We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came through the Recovery Act, bring onas another financial counselor because we found that the one financial counselor we had wasn't enough for these 109 women because they were

all these women are expected to come in at least once a month once a quarter for a counseling session. They also go through a

week financial education

So I think that's where again resources become a really key issue and understanding what is a reasonable caseload and to be able to exresults. There's always a balance between managing your caseload and in the same quantity versus then quality. So those are just my two cents in about that.

This is Anthony again. I would just like to follow up. And I think thatexactly it. It's based on resources. Currently, we were able to get support for a financial coach to come in once a week and when they do come in, they can only see ten people. So right now we're booked all through the month of February. So if we arisn't until the first week of March that we can even squeeze somebody in.

The issue is what we have available in terms of time slots versus the need. If I could bring in a coach more than once a week, then I woustill be booked through March, but we'd be able to see twice the same amount of folks.

So I do want to give another kind of credit to the Certified Financial Planners Association of New Jersey because they were key in providing a volunteer who

came on board, and this is really singular, for almost four months, 9:00 to 5:00, five days a week. This particular individual was working on his certification and he was able to use the planning that he did

How are you? This is Jess Sendors with El Centro in Kansas

City. I had a couple of questions. And Kristen got a little way towards the first one. What kind of caseload are you looking at for these financial coaches? I mean how many clients can they




We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came through the Recovery Act, bring onas another financial counselor because we found that the one financial counselor we had wasn't enough for these 109 women because they were


week financial education group education classes.

So I think that's where again resources become a really key issue and understanding what is a reasonable caseload and to be able to exresults. There's always a balance between managing your caseload and in the same quantity versus then quality. So those are just my two cents in

This is Anthony again. I would just like to follow up. And I think thatexactly it. It's based on resources. Currently, we were able to get support for a financial coach to come in once a week and when they do come in, they can only see ten people. So right now we're booked all through the month of February. So if we are to try to make further appointments, it isn't until the first week of March that we can even squeeze somebody in.

The issue is what we have available in terms of time slots versus the need. If I could bring in a coach more than once a week, then I woustill be booked through March, but we'd be able to see twice the same

So I do want to give another kind of credit to the Certified Financial Planners Association of New Jersey because they were key in providing a



City. I had a couple of questions. And Kristen got a little way towards the first one. What kind of caseload are you looking at for these financial coaches? I mean how many clients can they really see?




We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came through the Recovery Act, bring on

an AmeriCorps member who's acting as another financial counselor because we found that the one financial counselor we had wasn't enough for these 109 women because they were


group education classes.


This is Anthony again. I would just like to follow up. And I think thatexactly it. It's based on resources. Currently, we were able to get support for a financial coach to come in once a week and when they do come in, they can only see ten people. So right now we're booked all through the

e to try to make further appointments, it isn't until the first week of March that we can even squeeze somebody in.





City. I had a couple of questions. And Kristen got a little way towards the first one. What kind of caseload are you looking at for these financial

really see?

Well I can just say for our program, I think it really depends on how you structure your program and what are the goals for your program. When we put our program together, we really wanted ours, it's actually a three


And so the whole intention of our program and the goal of the program is much more intense. So we have 109 women enrolled and by the end of this year we'll have 175, and probably another 40 or 50 in 2011.

We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came



group education classes.









Well I can just say for our program, I think it really depends on how you structure your program and what are the goals for your program. When

ours, it's actually a threeram. So we intend for all of our participants to commit to a

year period where we're going to be working with them one-on-one. And so the whole intention of our program and the goal of the program is

d and by the end of this year we'll have 175, and probably another 40 or 50 in 2011.

We just were able to a couple of months ago through NCLR actually and through the AmeriCorps program, and additional funding that came



So I think that's where again resources become a really key issue and understanding what is a reasonable caseload and to be able to expect results. There's always a balance between managing your caseload and in the same quantity versus then quality. So those are just my two cents in



The issue is what we have available in terms of time slots versus the need. If I could bring in a coach more than once a week, then I would probably still be booked through March, but we'd be able to see twice the same



21



Well I can just say for our program, I think it really depends on how you structure your program and what are the goals for your program. When

ours, it's actually a three-

one. And so the whole intention of our program and the goal of the program is

d and by the end of

We just were able to a couple of months ago through NCLR actually and



results. There's always a balance between managing your caseload and in the same quantity versus then quality. So those are just my two cents in

This is Anthony again. I would just like to follow up. And I think that's exactly it. It's based on resources. Currently, we were able to get support for a financial coach to come in once a week and when they do come in, they can only see ten people. So right now we're booked all through the


The issue is what we have available in terms of time slots versus the need. ld probably

still be booked through March, but we'd be able to see twice the same

Planners Association of New Jersey because they were key in providing a came on board, and this is really singular, for almost four

months, 9:00 to 5:00, five days a week. This particular individual was working on his certification and he was able to use the planning that he did

Jess Sendors:

Anthony Santiago:

Jess Sendors:


Jess Sendors:

Anthony Santiago:

Jess Sendors:


with our clients toward his certification. Sotraining, he was working toward his certification. But it was through the pro bono committee of New Jersey's Financial Planning Association that he came on board through us.

So we are collaborating with all the folks who awhether it's traditional banks, whether it's the Financial Planners Association, but the need is still there. The need is still there. And if it weren t for a separate grant that we could get the financial clinic to come on board at least once a week, then that designated onewouldn't even be available. I'm trying to hit all the nails on the head, but I do appreciate the question from our friend in Kansas City.

Yes, Kansas City.

Be well.

Okay. And then the second question was what type of training or what qualifications are you looking for in these people that are financial coaches? I mean obviously if you can get somebody that's working to be a certified financial

Jackie Lynn Coleman:Well we found in our programthat we've been able to bring inabout this when Anthony was talking about it. She's working toward hMBA and she's taking classes in financial planning. And I think kind of going back to the conversation before really quickly, I think that there's a real opportunity to establish partnerships in more creative ways, even with some of the universities. one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, wthose as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal partnership.

In any case though, she is working towards her MBA and I think that's maybe unique. I donhave that level of experience. Our other counselor actually doesn't have a background in financial planning but a background in adult education. And that's proven to be really useful.

I think somresourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum trainings, there are financial counseling traini


So we are collaborating with all the folks who awhether it's traditional banks, whether it's the Financial Planners Association, but the need is still there. The need is still there. And if it weren t for a separate grant that we could get the financial clinic to come

rd at least once a week, then that designated onewouldn't even be available. I'm trying to hit all the nails on the head, but I do appreciate the question from our friend in Kansas City.

Yes, Kansas City.

Okay. And then the second question was what type of training or what qualifications are you looking for in these people that are financial coaches? I mean obviously if you can get somebody that's working to be a certified financial

planner, that's great.

Well we found in our programthat we've been able to bring inabout this when Anthony was talking about it. She's working toward hMBA and she's taking classes in financial planning. And I think kind of going back to the conversation before really quickly, I think that there's a real opportunity to establish partnerships in more creative ways, even with some of the universities. one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, wthose as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal partnership.

In any case though, she is working towards her MBA and I think that's maybe unique. I don't know if all of the counselors that we'll bring on will have that level of experience. Our other counselor actually doesn't have a background in financial planning but a background in adult education. And that's proven to be really useful.

I think some of the best qualities that a counselor can bring in are resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum trainings, there are financial counseling traini




Okay. And then the second question was what type of training or what qualifications are you looking for in these people that are financial coaches? I mean obviously if you can get somebody that's working to be a


Well we found in our program so the twothat we've been able to bring in it's actually interesting. I was thinking about this when Anthony was talking about it. She's working toward hMBA and she's taking classes in financial planning. And I think kind of going back to the conversation before really quickly, I think that there's a real opportunity to establish partnerships in more creative ways, even with some of the universities. So she's taking this financial planning course and one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, wthose as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal

In any case though, she is working towards her MBA and I think that's 't know if all of the counselors that we'll bring on will

have that level of experience. Our other counselor actually doesn't have a background in financial planning but a background in adult education. And that's proven to be really useful.

e of the best qualities that a counselor can bring in are resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum trainings, there are financial counseling traini

with our clients toward his certification. So

he was a financial planner in

training, he was working toward his certification. But it was through the pro bono committee of New Jersey's Financial Planning Association that





so the two the AmeriCorps counselor it's actually interesting. I was thinking

about this when Anthony was talking about it. She's working toward hMBA and she's taking classes in financial planning. And I think kind of going back to the conversation before really quickly, I think that there's a real opportunity to establish partnerships in more creative ways, even with

So she's taking this financial planning course and one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, wthose as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal


have that level of experience. Our other counselor actually doesn't have a background in financial planning but a background in adult education. And that's proven to be really useful.

e of the best qualities that a counselor can bring in are resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum trainings, there are financial counseling trainings that we've been able to



So we are collaborating with all the folks who are willing to collaborate, whether it's traditional banks, whether it's the Financial Planners Association, but the need is still there. The need is still there. And if it weren t for a separate grant that we could get the financial clinic to come

rd at least once a week, then that designated one-onwouldn't even be available. I'm trying to hit all the nails on the head, but I do appreciate the question from our friend in Kansas City.


the AmeriCorps counselor it's actually interesting. I was thinking


So she's taking this financial planning course and one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, wthose as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal


have that level of experience. Our other counselor actually doesn't have a background in financial planning but a background in adult education.

e of the best qualities that a counselor can bring in are resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum

ngs that we've been able to



re willing to collaborate, whether it's traditional banks, whether it's the Financial Planners Association, but the need is still there. The need is still there. And if it weren t for a separate grant that we could get the financial clinic to come

on-one person wouldn't even be available. I'm trying to hit all the nails on the head, but I do appreciate the question from our friend in Kansas City.




So she's taking this financial planning course and one of her professors was interested in the work that she's doing as a financial counselor with our organization and said, Hey, can I use some of your participants as case studies? I'm thinking, okay, well we can use those as case studies and maybe there's an opportunity to continue working with this professor and perhaps even making it a more formal



e of the best qualities that a counselor can bring in are resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum


22



re willing to collaborate,

Association, but the need is still there. The need is still there. And if it weren t for a separate grant that we could get the financial clinic to come

one person wouldn't even be available. I'm trying to hit all the nails on the head, but I

Okay. And then the second question was what type of training or what

coaches? I mean obviously if you can get somebody that's working to be a


about this when Anthony was talking about it. She's working toward her MBA and she's taking classes in financial planning. And I think kind of going back to the conversation before really quickly, I think that there's a real opportunity to establish partnerships in more creative ways, even with

So she's taking this financial planning course and

financial counselor with our organization and said, Hey, can I use some ell we can use

working with this professor and perhaps even making it a more formal



resourcefulness, creativity, and then also sort of an interest and savviness in finances. This is helpful. There are financial education curriculum


Jess Sendors:

Janis Bowdler:

Operator:

Yajaira Benet

Janis Bowdler:


Yajaira Benet


Yajaira Be


Yajaira Benet


Janis Bowdler:


Jess Sendors:

Janis Bowdler:

Operator:

Yajaira Benet-Smith:

Janis Bowdler:








Janis Bowdler:


tap into. I think it's bringing on the right person. But my sense is this was really key and then there are trainings that exist out there.

Thank you.

I'll just plug quickly that NCLR is currentltraining program on financial counseling geared at lowincome families. So that's something that we hope to roll out this year that will provide more access to training for this kind of stuff.

I think we have time

Absolutely. Our next question comes from Yajaira Benet

Smith:

Hi. I'm in South Carolina in Buford. I teach prenatal care classes. So I'm not doing what you are doing. But mention, when I deal with pregnancy and families, there are many other issues that come up. I was interested in knowing if you know of any organization in South Carolina that does this kind of work like financial counseling for people? Thank you.

That is such a good question. I don't actually. Jackie Lynn, do you guys have an affiliate in South Carolina.

Jackie Lynn Coleman:We do have

Smith:

Correct.

Jackie Lynn Coleman:Okay. We do have a couple of affiliates in South Carolina. And I can do better if you would visit our website for some additional information. Or you can shoot me an email and then we'll be able to connect you.

Smith:

Okay, and what is the website? I'm sorry.

Jackie Lynn Coleman:It's tax-coalition.org.

Smith:

Thank you.

Jackie Lynn Coleman:You're welcome.

With the permission of all the speakers, we'll put your emails on thewebsite. Is that okay?

Jackie Lynn Coleman:That's fine with me.


Thank you.


I think we have time

for one more question. Can we take one more?




We do have South Carolina, is that correct?

Okay. We do have a couple of affiliates in South Carolina. And I can do better if you would visit our website for some additional information. Or you can shoot me an email and then we'll be able to connect you.


coalition.org.

Thank you.

You're welcome.

With the permission of all the speakers, we'll put your emails on thewebsite. Is that okay?

That's fine with me.







South Carolina, is that correct?



With the permission of all the speakers, we'll put your emails on the


I'll just plug quickly that NCLR is currently looking at cotraining program on financial counseling geared at lowincome families. So that's something that we hope to roll out this year that will provide more access to training for this kind of stuff.



Hi. I'm in South Carolina in Buford. I teach prenatal care classes. So I'm not doing what you are doing. But it's very interesting because as you also mention, when I deal with pregnancy and families, there are many other issues that come up. I was interested in knowing if you know of any organization in South Carolina that does this kind of work like financial counseling for people? Thank you.


South Carolina, is that correct?





y looking at co-

training program on financial counseling geared at low- and middleincome families. So that's something that we hope to roll out this year that will provide more access to training for this kind of stuff.


Absolutely. Our next question comes from Yajaira Benet-

Hi. I'm in South Carolina in Buford. I teach prenatal care classes. So I'm it's very interesting because as you also

mention, when I deal with pregnancy and families, there are many other issues that come up. I was interested in knowing if you know of any organization in South Carolina that does this kind of work like financial

That is such a good question. I don't actually. Jackie Lynn, do you guys



tap into. I think it's bringing on the right person. But my sense is this was

-authoring a

and middle-income families. So that's something that we hope to roll out this year that


-Smith.


mention, when I deal with pregnancy and families, there are many other issues that come up. I was interested in knowing if you know of any organization in South Carolina that does this kind of work like financial




23

tap into. I think it's bringing on the right person. But my sense is this was

authoring a

income families. So that's something that we hope to roll out this year that


mention, when I deal with pregnancy and families, there are many other

organization in South Carolina that does this kind of work like financial


Okay. We do have a couple of affiliates in South Carolina. And I can do better if you would visit our website for some additional information. Or

Janis Bowdler:

Operator:

Susz Lay:

Janis Bowdler:


Janis Bowdler:


Janis Bowdler:

Susz Lay:

Kristen Komara:

Susz Lay:

Janis Bowdler:

Operator:

Susz Lay:

Janis Bowdler:


Janis Bowdler:


Janis Bowdler:

Susz Lay:

Kristen Komara:

Susz Lay:

Okay, and I'll check with you guys offline. But if folks follow up on the NCLR website after this we will be posting a recording of this call and also contact information questions.

So with that, I'm told we have one more question in the queue.

Our next and final question comes from Susz Lay.

Good afternoon. I'd like to ask if at any time do you use Federation to help train your coaches so they ask pertinent questions and be more on target?

To any of the speakers. Have you used that training program before?

Jackie Lynn Coleman:Is that the same as the Tribe Coaching?

No.

Jackie Lynn Coleman:No, okay. No, I have not used that.

Susz, I would love it if you would send me an email about that program and we'll certainly take a look at it. We're always gathering information and resources to

Okay, I wanted to say one other thing about funding. I'm in California in a very rural area, and I'm the only HUDat all. One of the things I found is that the larger banks are so comand by the time we apply, it seems that most of their funding is going to the urban areas and not so much rural. Our smaller banks are a little better but of course they don't have as much funding.

And also some of the funding that's out there,and reports that are due, sometimes even with the HUD 9902 and all these other things I'm doing, it's so difficult to apply for some other type of funding when I know that the reporting and the amount of data that I m going to haveshould I just concentrate on my clients? Because they expect so much out of it when they do give us a decent amount of funding. So that's just my comment.

Yes, I agree. Sbeing on the call.

Yes.

Okay, and I'll check with you guys offline. But if folks follow up on the NCLR website after this we will be posting a recording of this call and also contact information



Good afternoon. I'd like to ask if at any time do you use Federation to help train your coaches so they ask pertinent questions and be more on target?


Is that the same as the Tribe Coaching?

No, okay. No, I have not used that.

Susz, I would love it if you would send me an email about that program and we'll certainly take a look at it. We're always gathering information and resources to

put out there for folks.


And also some of the funding that's out there,and reports that are due, sometimes even with the HUD 9902 and all these other things I'm doing, it's so difficult to apply for some other type of funding when I know that the reporting and the amount of data that I m going to have

to collect is overwhelming. It's like, is it even worth it? Or should I just concentrate on my clients? Because they expect so much out of it when they do give us a decent amount of funding. So that's just my

Yes, I agree. Susz, this is Kristen. I believe we met in Sacramento before being on the call.

Okay, and I'll check with you guys offline. But if folks follow up on the NCLR website after this we will be posting a recording of this call and also contact information so you can get a hold of the speakers to ask any



Good afternoon. I'd like to ask if at any time do you use Federation to help train your coaches so they ask pertinent questions and




Susz, I would love it if you would send me an email about that program and we'll certainly take a look at it. We're always gathering information



And also some of the funding that's out there,and reports that are due, sometimes even with the HUD 9902 and all these other things I'm doing, it's so difficult to apply for some other type of funding when I know that the reporting and the amount of data that I m


usz, this is Kristen. I believe we met in Sacramento before

Okay, and I'll check with you guys offline. But if folks follow up on the NCLR website after this we will be posting a recording of this call and

so you can get a hold of the speakers to ask any



Good afternoon. I'd like to ask if at any time do you use Federation to help train your coaches so they ask pertinent questions and






Okay, I wanted to say one other thing about funding. I'm in California in a very rural area, and I'm the only HUD-approved counselor in this county at all. One of the things I found is that the larger banks are so comand by the time we apply, it seems that most of their funding is going to the urban areas and not so much rural. Our smaller banks are a little better but of course they don't have as much funding.

And also some of the funding that's out there,

the amount of paperwork and reports that are due, sometimes even with the HUD 9902 and all these other things I'm doing, it's so difficult to apply for some other type of funding when I know that the reporting and the amount of data that I m







Good afternoon. I'd like to ask if at any time do you use the Coaching Federation to help train your coaches so they ask pertinent questions and



Okay, I wanted to say one other thing about funding. I'm in California in a approved counselor in this county

at all. One of the things I found is that the larger banks are so comand by the time we apply, it seems that most of their funding is going to the urban areas and not so much rural. Our smaller banks are a little better but of course they don't have as much funding.







the Coaching

Federation to help train your coaches so they ask pertinent questions and




at all. One of the things I found is that the larger banks are so competitive and by the time we apply, it seems that most of their funding is going to the urban areas and not so much rural. Our smaller banks are a little better




24



the Coaching Federation to help train your coaches so they ask pertinent questions and



petitive and by the time we apply, it seems that most of their funding is going to the urban areas and not so much rural. Our smaller banks are a little better

the amount of paperwork and reports that are due, sometimes even with the HUD 9902 and all these

funding when I know that the reporting and the amount of data that I m to collect is overwhelming. It's like, is it even worth it? Or

should I just concentrate on my clients? Because they expect so much out of it when they do give us a decent amount of funding. So that's just my


Kristen Komara:

Susz Lay:

Kristen Komara:

Susz Lay:

Janis Bowdler:

Janis Bowdler:

Kristen Komara:

Susz Lay:

Kristen Komara:

Susz Lay:

Janis Bowdler:

Janis Bowdler:

I think you make a good point. Sometimes we think about that too, especially given the amount of some funding that isn't significant. I mean you're talking about significant amounts of funding. Some funding isn't even that significant and it requires a lot of reporting and paperwork.

A lot.

I think one thing that I can say is that having just good tracking and evaluation methods in place are very useful. The more you can do preventatively or proactively, the better. Otherwise, those reports just become such a burden. But I hear you, and that's sometimes just the nature of the funding.

[Inaudible] changistuff they need to do. Like I said, they keep wanting more and more information. Sometimes it gets crazy.

Well, thank you so much for those last comments. We're over time and I want to respect everybody's time. I really appreciate everybody who was able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making themselves available as a resource to all of you out how to do this program.

I would really encourage everybody that's on the phone to reach out to your senators and let them know that you need funding for a financial counseling program. I think the phrasing Anthony used earlialchemy of funding, this hodgepodge that you've got to put together. And what we really need is a steady federal investment to build an infrastructure that allows us to get advice to lowfamilies. As Kristen said earlier, tso they somehow don't need advice. All of you know that that's not the case. They may even need it more than those that have resources.

NCLR is certainly going to pursue this as an advocacy item, and we invite you all to do the same. With that, are there any final comments, or tips, or pointers from our folks on the phone?

Thank you so much. I just want to thank everybody for being on the call, and we look forward to getting your emails about suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that were asked.



I think one thing that I can say is that having just good tracking and ation methods in place are very useful. The more you can do

preventatively or proactively, the better. Otherwise, those reports just become such a burden. But I hear you, and that's sometimes just the nature of the funding.

[Inaudible] changing things or if they would complete their website and stuff they need to do. Like I said, they keep wanting more and more information. Sometimes it gets crazy.

Well, thank you so much for those last comments. We're over time and I o respect everybody's time. I really appreciate everybody who was

able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making themselves available as a resource to all of you out how to do this program.


NCLR is certainly going to pursue this as an advocacy item, and we invite u all to do the same. With that, are there any final comments, or tips, or

pointers from our folks on the phone?

Thank you so much. I just want to thank everybody for being on the call, and we look forward to getting your emails about suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that were asked.




preventatively or proactively, the better. Otherwise, those reports just become such a burden. But I hear you, and that's sometimes just the

ng things or if they would complete their website and stuff they need to do. Like I said, they keep wanting more and more information. Sometimes it gets crazy.


able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making themselves available as a resource to all of you out how to do this program.




Thank you so much. I just want to thank everybody for being on the call, and we look forward to getting your emails about suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that





ng things or if they would complete their website and stuff they need to do. Like I said, they keep wanting more and more information. Sometimes it gets crazy.


able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making themselves available as a resource to all of you

I would really encourage everybody that's on the phone to reach out to your senators and let them know that you need funding for a financial counseling program. I think the phrasing Anthony used earlialchemy of funding, this hodgepodge that you've got to put together. And what we really need is a steady federal investment to build an infrastructure that allows us to get advice to lowfamilies. As Kristen said earlier, the perception is they don't have money, so they somehow don't need advice. All of you know that that's not the case. They may even need it more than those that have resources.



Thank you so much. I just want to thank everybody for being on the call, and we look forward to getting your emails about suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that




ng things or if they would complete their website and stuff they need to do. Like I said, they keep wanting more and more


able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making themselves available as a resource to all of you who are trying to figure

I would really encourage everybody that's on the phone to reach out to your senators and let them know that you need funding for a financial counseling program. I think the phrasing Anthony used earlialchemy of funding, this hodgepodge that you've got to put together. And what we really need is a steady federal investment to build an infrastructure that allows us to get advice to low- and middle

he perception is they don't have money, so they somehow don't need advice. All of you know that that's not the case. They may even need it more than those that have resources.


Thank you so much. I just want to thank everybody for being on the call, and we look forward to getting your emails about other comments and suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that


I think one thing that I can say is that having just good tracking and

ation methods in place are very useful. The more you can do preventatively or proactively, the better. Otherwise, those reports just become such a burden. But I hear you, and that's sometimes just the

ng things or if they would complete their website and stuff they need to do. Like I said, they keep wanting more and more


able to join the call for this discussion. I want to thank our speakers and panelists for sharing more about their programs and for making

who are trying to figure

I would really encourage everybody that's on the phone to reach out to your senators and let them know that you need funding for a financial counseling program. I think the phrasing Anthony used earlier was an alchemy of funding, this hodgepodge that you've got to put together. And what we really need is a steady federal investment to build an

and middle-income he perception is they don't have money,

so they somehow don't need advice. All of you know that that's not the case. They may even need it more than those that have resources.


Thank you so much. I just want to thank everybody for being on the call, other comments and

suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that

25

especially given the amount of some funding that isn't significant. I mean you're talking about significant amounts of funding. Some funding isn't

preventatively or proactively, the better. Otherwise, those reports just

ng things or if they would complete their website and


able to join the call for this discussion. I want to thank our speakers and

who are trying to figure

I would really encourage everybody that's on the phone to reach out to your senators and let them know that you need funding for a financial

er was an alchemy of funding, this hodgepodge that you've got to put together.

he perception is they don't have money, so they somehow don't need advice. All of you know that that's not the


Thank you so much. I just want to thank everybody for being on the call, other comments and

suggestions. You'll be able to find the recording of this call on NCLR's website in the next day or so. Then following that, we'll have proceedings from this call, so you can review the information and any questions that

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